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




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