A growth is expected.

Assumingly, a correction of the senior level within wave B of (2) in the shape of an irregular flat with a diagonal in wave c of B has finished forming. Locally, a starting wave i of (i) of the junior level seemed to have formed. If the assumption is correct, the pair will grow within wave C of (2).

Trading tips

Buy the pair above the level of 1.5100 with targets at 1.5600, 1.5800.

Alternative scenario

The breakdown and consolidation below the level of 1.5100 would allow the pair to fall to 1.4900, 1.4800.

GBP/USD: wave analysis

GBP/USD: wave analysis




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