FX.co ★ mdouglas | Wave Wisdom: Mastering the Art of Wave Marking in Forex!

Regarding GBPUSD, on Friday the upward movement continued as expected. I did not anticipate a reversal into the third wave on Friday, and the pair did not even attempt it, as I mentioned on Thursday. I suggested that on Friday the third wave would not start and assumed a continuation of the correction in wave (2) of (C), which the pair indeed did. Possibly, at the beginning of the new week, the pair will continue the pullback in wave (2). It is possible that starting from Monday, the pair will begin to rise in wave (c) of (2) of (C) if a new high is reached. If not, I expect a pullback in wave (b) of (2) followed by further upside movement in wave (c) of (2). It is likely that by Wednesday, the pair will reverse into wave (3) of (C).