Probably, the market has finished wave [iv] of 5 of (1) and the first five-wave structure inside wave [v] of 5 of (1). In the nearest suture, the price is expected to break local lows and continue moving downward.
![GBP_USD British Pound _ US Dollar](https://riskmarket.co.uk/wp-content/uploads/2015/03/GBP_USD-British-Pound-_-US-Dollar-300x161.png)
![GBR 4HRS](https://riskmarket.co.uk/wp-content/uploads/2015/03/GBR-4HRS-300x151.png)
By Theodoros Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk