GBPUSD: Consolidation or falling ?
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
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
