The GBP/USD price is still likely to rise. Estimated pivot point is at a level of 1.3049.

Main scenario: long positions will be relevant above the level of 1.3049 with a target of 1.3553 – 1.3715.

Alternative scenario: breakout and consolidation below the level of 1.3049 will allow the GBP/USD rate to continue falling down towards level 1.2926.

Analysis:The first wave of senior level (1) is formed as a momentum. Supposedly, the downward correction in the form of the second wave (2) is complete and wave (3) is emerging in the 4-hour timeframe. Apparently,  the entry wave of junior level (i) of i and the correction (ii) of i have formed in the 1-hour timeframe. If the presumption is correct, the GBP/USD price should continue rising to the levels of 1.3553 – 1.3715. The level 1.3049 is critical in this scenario.

GBP/USD: волновой анализ и прогноз на 13.07.18 – 20.07.18

GBP/USD: волновой анализ и прогноз на 13.07.18 – 20.07.18

GBP/USD: волновой анализ и прогноз на 13.07.18 – 20.07.18

GBP/USD: wave analysis and forecast for 13/07/2018 – 20/07/2018

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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