Euro-Pound yet couldn’t consolidate above correction level 38.2% from 3rd wave (or C) dimension of main trend. Without a doubt a currency pair yet able to form more complex 5th wave into “5th”, but according to many readings (incl. divergence on MACD) a price’ u-turn already ripened. Thereupon a temptation presents to “straddle” the beginning of generating downward trend. But too obvious facts always are able to bring bad surprises.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst