A growth is expected.

Assumingly, a correction of the senior level within wave X, which currently has the shape of a flat, has finished forming. Locally, as it seems, a formation of a "bearish" impetus within the last wave c of X has finished and a starting impetus of the junior level (i) has formed. If the assumption is correct and the price does not break down the critical level of 1.5160, the pair continues growing to 1.5800.

Trading tips           

Buy the pair above the level of 1.5160 with the target at 1.5800.

Alternative scenario

The breakdown and consolidation below the level of 1.5160 would allow the pair to decline towards 1.5000-1.4800.

GBP/USD: wave analysis

GBP/USD: wave analysis




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