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




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