GBPUSD has slightly overdone the retracement, but my wedge pattern is still intact. I am still waiting for the completion of the downside movement with the wedge pattern. Only the fifth wave with a breakout remains to complete the wedge in wave (C) of wave (2) with a reversal in wave (3). If after the breakout in the fifth wave the pair retraces and then decides to head south again, then a larger correction in wave (C) of wave (2) of the higher degree will be needed, where the wedge will be only the first wave in wave (3) of wave (C) of wave (2), and then the pair will move below 1.1500. However, this scenario will be kept in reserve for now. Primarily, I am still expecting the breakout and reversal in wave (3) of wave (3).
