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




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