GBP/USD is going to see losses

Done and dusted. Well, I have some doubts over EURUSD but the 1.1385-93 area is possible and the 1.1404 is the limit. USDJPY has already begun the upside along with USDCHF. It looks most likely that GBPUSD is going to see losses – and over time I suspect it’s going back below the (blue) Wave [x]. Well, that will be the key level that will imply further losses.

So far, in USDJPY, we have seen the lower degree Wave i and Wave ii that will then build the Wave a/iii, Wave b/iii and onwards. EURUSD I feel has found a high – but note the comment above. USDCHF has reached a Wave a – having seen the final low while GBPUSD should be heading lower. 

I was puzzled with AUDUSD but then I spotted the lower degree Wave i and onwards to reach the Wave v – so even the Aussie appears to look for losses. However, having seen a double zigzag – and the slowness that this pair can see, I’d still be cautious of a triple three – but it ain’t gonna happen today I feel.

With EURUSD looking to the downside and USDJPY on the upside we’ll have a battle to see which pair makes the stronger move. I fancy the downside – but take care.