A growth is expected. 

Assumingly, the wave C of 2 within the upward “bullish” correction of the senior level continues developing. Currently, the third wave iii of C seems to be forming, within which the correctional wave (ii) has finished and the third wave of the junior level (iii) has started developing. If the assumption is correct and the price does not break through the critical level of 1.5460, the pair will continue growing within the third wave towards 1.6300. 

Trading tips 

Buy the pair from corrections, above 1.5460, with the target at 1.5800-1.6300. 

Alternative Scenario 

The breakdown and consolidation below 1.5460 would allow the pair to continue falling towards 1.5100-1.5000.

GBP/USD: wave analysis

GBP/USD: wave analysis

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