If you have any questions about UpFX or Forex, ask our expert team who are standing by to help you. Current chart structure implies that Pound is forming mid-term ascending trend inside large impulse (C).
Probably, pair started forming final descending zigzag [v] of A with diagonal triangle (a) of [v] of A. Due to the nature of global business currency is always in high demand as well as the need to convert currency for international trade. In forex trading the best opportunities for making money is when the various markets overlap trading hours. In order to finish it, pair need to complete correction [iv] of 5 and then final wave [v] of 5 in the form of impulse or diagonal triangle.
The banks make sure that these needs are filled by being connected globally on a network that allows for the exchange of these currencies resulting in a 24 hour trading network that is now available to the smaller speculator. While the London Market is coming to a close the New York Market is opening, during this overlapping time frame the forex is very active and allows for much more profit potential.
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