We keep in effect our suggestion considering the fact that Friday’s minimum was marked the 5-wave structure on a supposed wave 1 (or A) of the descending trend that forms, and right now the pair Euro-Pound forms a correction 2nd (or B) wave. After its work-off, the move towards down will be, probably, resumed. At the same time we must bear in mind that the Euro-Pound has its peculiarity and for that reason sometimes gives quite bad surprises. But today it is early, probably, to examine such a bad surprise as the resumption of an ascending trend.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst