Some pound crosses at the moment very clearly show the possible end of the correction. Ascending movements on them are difficult to interpret as impulses in emerging new trends. Let’s consider some supposed variants from the point of view of the EWT.
GBPAUD. It is possible that the correction in the wave ((4)) of the impulse or wave ((2)) of the ending diagonal is on the stage of completion.
In support of this option, clear bearish butterfly garlley on older timeframes were formed.
GBPCHF. A similar situation for this pair too…
…with fine bearish butterflies also at Daily and Weekly charts …
Bearish butterflies are on the GBPUSD (Daily chart, EW analysis see in VIP category)…
… at GBPJPY weekly chart…
…and EURGBP daily chart.
It is possible that all of these factors could lead to a fall in the British currency in the medium term.
