The pair is expected to grow

Presumably, the fifth final wave within a long-term bearish impetus has already formed. Apparently, a counter-trend impetus and a correction in a form of wave (ii) have formed by now. The third wave (iii) targeted at 1.5550 is probably developing locally. If this assumption is correct and the price does not break the critical level 1.4825, it's logical to expect the pair to continue rising to the level 1.5550.  

Trading tips

Buy above the level of 1.4825 with a target at 1.5550. Sell the pair with a target at 1.4620 in case the level 1.4825 is broken.

Alternative scenario:

Breakdown and consolidation below the level of 1.4825 will allow the pair to continue declining to the levels of 1.4600 – 1.4400. 

GBP/USD: wave analysis

GBP/USD: wave analysis




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