The pair GBP/USD is still likely to rise. Estimated pivot point is at a level of 1.2656.

Main scenario: long positions will be relevant above the level of 1.2656 with a target of 1.3175 – 1.3305.

Alternative scenario: breakout and consolidation below the level of 1.2656 will allow the pair to continue falling down to the levels of 1.2600 – 1.2500.

Analysis: Supposedly, a downward correction finished developing within the daily frame in the form of the second wave (2). Presumably the wave С of (2) finished forming and took the form of a wedge in the H4 timeframe. On the H1 time-frame, apparently, the fifth wave of junior level v of C finished developing. If the presumption is correct, the pair will continue rising up to the levels of 1.3175 – 1.3305. The level 1.2656 is critical in this scenario.

GBP/USD: волновой анализ и прогноз на 07.12.18 – 14.12.18

GBP/USD: волновой анализ и прогноз на 07.12.18 – 14.12.18

GBP/USD: волновой анализ и прогноз на 07.12.18 – 14.12.18

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Price chart of GBPUSD in real time mode

GBP/USD:  Wave analysis and forecast for 07/12/2018 – 14/12/2018

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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