The pair is expected to grow

Presumably, the fifth final wave within long-term bearish impetus has already formed. A counter-trend impetus (i) has formed by now. If this assumption is correct, the pair will go on rising once a correction is completed. The level 1.4620 is critical in this scenario.

Trading tips

Buy the pair from corrections above a level of 1.4620 with a target at 1.5550.

Alternative scenario:

Breakdown and consolidation below the level of 1.4620 will allow the pair to continue declining to the levels 1.4500-1.4400. 

GBP/USD: wave analysis

GBP/USD: wave analysis

GBP/USD: wave analysis

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

Follow us in social networks!
Live Chat
Leave feedback