If our suggestion is right and by Friday’s minimums a five-wave structure of the wave 1 (or A) on the outlined descending trend was completed, then the pair Euro-Pound must form 2nd (or B) correction wave before its downward move resumption. Anyhow, inner dimension of this possible 1st wave (or A) observed almost ideally. It is logical to wait for the end of this correction retreat, before making any decision considering enter on the market.
Analysis prepared by:
Maxim Dmitrievsky
Forex4you analyst