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It's most likely that the double zigzag formation on [a] wave came to an end. Therefore the further price lowering in (a) direction in short-term is possible that could lead to the local minimum breakout.


Pound is moving downwards in frames of [iv] correction wave. The bullish extension on [iii] wave was formed earlier. As soon as the current correction is over the one more bullish impulse on [v] is possible.


(ii) wave formation that take the double zigzag shape continues on Yen. Previously the ascending impulse on (i) was formed. Thereafter the price growth might be resumed in frames of upcoming (iii) wave.


Down-wave descending extension formation on [iii] continues. As may be supposed the (ii) wave is completed on lower wave level. Market lowering resuming on (iii) is possible in short-terms. As a result the (i) wave minimum breakout is possible soon.

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