The decline within wave [a] will continue

12.04.2021

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For the pair under consideration, the situation begins to develop as expected. The pound is steadily losing ground, which has already led to the renewal of the minimums of the current year. And this is not the limit. The price, with a high degree of probability, will continue to decline. This has resulted from the development of the second component of the double zigzag.

At the moment, it is assumed that wave [a] is being formed. Then, after a slight decline, the price will correct upward, forming a wave [b], then an impulsive decline will start again. The potential for a decline in the development of wave [a] remains quite good, so you should try to make money on the sale right now.

Investment idea: sell 1.3680, stop loss 1.3700, take profit 1.3580.