Correction is completed and the pair is expected to rise.

Supposedly, the local bearish correction in a form of wave (ii) shaped like a flat surface has finished forming. Besides, apparently, the wave of junior level c of (ii) has finished developing. If this assumption is correct and the price does not break the critical level of 1.4720, it's logical to expect the pair to resume growth to the levels 1.5200-1.5400. 

Trading tips

Buy above the level of 1.4720 with targets at 1.5200-1.5400.

Alternative scenario

Breakdown and consolidation below the level of 1.4720 will allow the pair to continue declining to the levels 1.4600-1.4500.

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