Uptrend continues.

Presumably, the formation of the “bullish” impetus in the first wave of the large upward correction is ongoing. Locally, it seems that the third wave of the junior level (iii) is developing. If this assumption is correct the pair will continue to rise up to 1.5350. Critical level for this scenario is 1.4850.

Trading tips

Buy the pair above the level of 1.5062 with the target of 1.5350.

Alternative scenario

Breakdown and consolidation of the price below the level of 1.5062 will enable the pair to continue decline to 1.4850.

GBP/USD: wave analysis

GBP/USD: wave analysis

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