The pound continues to fall.

Supposedly, the long-term bearish impetus continues to form on a daily time frame. Apparently, the fifth wave is forming locally. Within it, the third wave (iii) is completed and a local correction as part of wave (iv) has started to form. If this assumption is correct and the price does not break the critical level, it's logical to expect a short-term rise to a level of 1.4800

Trading tips

Buy above a level of 1.4563 with a target at 1.4800.

Alternative scenario

Breakdown and consolidation below the level of 1.4563 will allow the pair to continue declining to a level of 1.4400.

GBP/USD: wave analysis

GBP/USD: wave analysis

GBP/USD: wave analysis




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