Euro-Pound continues it’s supposedly correction course in favor of British currency. Current downward course we can name “correction” by it behavior near the correction levels, in the limits of supposed C-wave and Fibo fantail line. It can well happen, that the price yet will reach a mark near 0.8690 (38.2%) before price’ sort of retreat up. But an overall target in the direction of lower wedge-line keeps its priority today. Also we must admit stochastic oversold, which allows us to examine the possibility for some sort of “correction into the correction”.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst