The chart shows my count for GBP/USD since the reached low 1.3503. I think that a flat correction is developing from this level with wave C of it currently under way. I suggest that this wave C will turn out to be a terminal impulse (ending diagonal) and if this is the case, we should see initial rise to 1.5000 followed by a sharp sell-off below 1.3500. From a short term point of view we should be currently in wave 4 of the said wave C. There is still no confirmation for the end of wave 4 of C but I entered long position (I should admit that it is too risky at the moment)

Trading strategy: 05:53 EST; 10:53 GMT

Long position from 1.4705, stop loss - 1.4580, target - 1.4960

This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts