Uptrend dominates; the pair continues to grow.

The formation of the “bullish” impetus continues in the first wave A of the large upward correction 2. At the moment, the price has reached estimated level for the third wave - 1.5350 and is still growing, which shows that extension is being developed in the third wave. If this assumption is correct, the pair will continue to grow to 1.5560 - 1.5845 in the developing impetus 

Trading tips

It makes sense to buy the pair from correction above the level of 1.5260 with the targets of 1.5500 – 1.5800.

Alternative scenario

Breakdown and consolidation of the price below the level of 1.5260 will enable the pair to     continue decline to 1.5050 – 1.5000.

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