The pair GBP/USD is still likely to fall. Estimated pivot point is at a level of 1.2925.

Main scenario: short positions will be relevant below the level of 1.2925 with a target of 1.2600 – 1.2500.

Alternative scenario: breakout and consolidation above the level of 1.2925 will allow the pair to continue the rise up to the levels of 1.3305 – 1.3510.

Analysis: Supposedly, a descending correction continues to develop within the daily frame in the form of the second wave (2) . Presumably the wave C of (2) is developing on the H4 time-frame, with the wave v of C forming inside. On the H1 time-frame, apparently, an upward correction of junior level (iv) of v finished developing and the wave (v) of v is forming at the moment. If the presumption is correct, the pair will continue to drop to the levels 1.2600 – 1.2500. The level 1.2925 is critical in this scenario.

GBP/USD: Wave analysis and forecast for 30/11/2018 – 07/12/2018

GBP/USD: Wave analysis and forecast for 30/11/2018 – 07/12/2018

GBP/USD: Wave analysis and forecast for 30/11/2018 – 07/12/2018


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Price chart of GBPUSD in real time mode

GBP/USD: Wave analysis and forecast for 30/11/2018 – 07/12/2018

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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