Uptrend continues.

Presumably, the “bullish” impetus is being developed in the wave С of 2 of the senior level. At the moment it seems that the third wave of the junior level iii of С is being formed. If this assumption is correct, after the local correction (iv) the pair can continue to rise up to 1.6000–1.6170.

Trading tips

Buy the pair from correction above the level of 1.5728 with the target of 1.6000–1.6170.

Alternative scenario

Breakdown and consolidation of the price below the level of 1.5728 will enable the price to go down to 1.5600–1.5500 as part of the correction.

GBP/USD: wave analysis

GBP/USD: wave analysis




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