markets did not move much after the FED yesterday. We however have seen some upward reaction on S&P500 but moves to the upside are not strong. In fact, we see an overlapping price action which means that the rally is probably corrective, ideally a double zigzag in wave 4) that can stop around 1920-1930 area.
S&P500, 1H
GBPUSD
A pullback from the recent high was too deep for us, but still it looks like a corrective move. An updated count shows that wave B) can still be unfolding, now as a triangle will send the price up into wave C) after the pattern is completed. Waves D and E are still missing.
GBPUSD, 1H
