A growth is expected.

Assumingly, a development of the wave C of 2 within the upward "bullish" correction of the senior level continues. Currently, as it seems, the third wave iii of C is forming, within which a starting wedge has formed as the wave (i) of iii, and, supposedly, the wave (ii) is finishing. If the assumption is correct and the price does not break through the critical level 1.5328, the pair will continue growing within the third wave towards 1.6300.

Trading tips

Buy the pair from corrections, above 1.5328 with the target at 1.5800-1.6300.

Alternative Scenario

The breakdown and consolidation below 1.5328 would allow the pair to continue declining towards 1.5100-1.5000.

GBP/USD: wave analysis

GBP/USD: wave analysis




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