The pair GBP/USD is still likely to grow. Estimated pivot point is at a level of 1.3202.
Main scenario: long positions will be relevant above the level of 1.3202 with a target of 1.3480.
Alternative scenario: breakout and consolidation below the level of 1.3202 will allow the pair to continue declining to a level of 1.2926.
Analysis: Supposedly, a descending correction of senior level in the form of the wave (2) continues to develop within the daily frame. Apparently,the wave А of (2) has been formed locally and an ascending correction is developing in the form f the wave B of (2), with the wave a of B formed as a wedge and the wave b of B completed inside. If the presumption is correct, the pair may be expected to rise to the level of 1.3480. The level 1.3202 is critical in this scenario.
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Price chart of GBPUSD in real time mode
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