its_new_wave

GBPUSD: Consolidation or falling ?

FX:GBPUSD   British Pound / U.S. Dollar
In previous I waited that the pair will continue a rise until 1.64, but the market has got surprised and changed movement. Again, wave count now clear and I allocated 2 scenario:

1. Consolidation = triangle.
The fall from 1.592 does not look like a fifth wave movement. There are possible to count 5 wave, but their have a very bad proportion. Because of this I think that the rise from 1.518 was an extended flat correction . In this case GPBUSD are working at triangle, which will continue about 2 weeks.

2. Falling
If movement from 1.592 yet was a fifth wave, then now this pair are working at wave (2) and after that will fall in wave (3) In this scenario first target to fall will be at 1.485
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