The pair may grow.

The pair is trading within a narrowing range, which, assumingly, is a corrective triangle in wave B of a big upward correction. Locally, a starting impetus of a junior level as the wave (i) seems to have formed; and, if the assumption is correct, the pair continues growing towards 1.5700-1.5800 marks. A critical for this scenario is the level of 1.5420.

Trading tips

Buy the couple from corrections, above 1.5420, with the target at 1.5700-1.5800.

Alternative scenario

The breakdown and consolidation below 1.5420 the pair would allow the pair to continue falling to 1.5178.

GBP/USD: wave analysis

GBP/USD: wave analysis

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

Follow us in social networks!
Live Chat
Leave feedback