Possible 5th Wave down to complete a zigzag correction

Recent poor growth figures and low inflation in the UK have led to calls for a interest rate cut. Therefore I'm looking for short trades on GBP .
All of the GBP charts have a similar structure i.e a incomplete zig zag or ending diagonal in the A position.

This GBPUSD chart looks ready to go short to complete the zigzag. I don't often give targets but in this case target one has to be previous low with target two at least the 1.27 extension of the 3rd wave. Price could push further to the bottom of the 4th wave of the impulse.

Steve Nixon
logicfxtrading

This is only for educational purposes and not meant as investment advice

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