Article By RoboForex.com
In our previous review, “Start of the final ascending wave. Wave analysis of GBP/LPY for 23.10.2014”, we discussed one of the possible scenario how the price may form an ascending wave (iii) of [v] of 5.
Probably, the pair has completed an ascending impulse (iii) of [v] of 5 by growing for about 1,100 pips, from 172.50 to 183.50. Later, the market is expected to form the final waves of impulse [v] of 5.
Our mid-term expectations haven’t changed so far – the pair is about to finish a large ascending impulse (1), which may be followed by a large descending correction (2).
However, at the same time one should remember that any possible scenario is subjective and the market may move in a completely different direction.
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.