Correction continues

The correction in a form of wave (ii) continues to form with the third wave of junior level c of (ii) developing inside. If this assumption is correct and the price does not break the critical level 1.4628, it's logical to expect the pair to continue rising to a level of 1.5550 after correction. 

Trading tips

Wait for correction to finish and buy above the level of 1.4628 with a target at 1.5550 in case indicators produce a confirming signal.

Alternative scenario:

Breakdown and consolidation below the level of 1.4628 will allow the pair to continue declining to the levels 1.4500-1.4400. 

GBP/USD: wave analysis

GBP/USD: wave analysis




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