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




The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.



!-- Go to www.addthis.com/dashboard to customize your tools -->