A correction continues.

The British pound continued declining within the alternative scenario. At present, a large Bearish correction seems to be forming within wave B of 2. Locally, it can be assumed that a development of wave c of B is nearing the end, and within this wave a Bearish impetus as the fifth last wave (v) of c of B is finishing. If the assumption is correct, the pair turns up and starts growing in wave C of 2 after the last fall.

Trading tips

In case of the breakout and consolidation above the level of 1.5140, buy the pair with the target at 1.5400-1.5500.

Alternative scenario

The breakdown and consolidation below the level of 1.4965 would allow the pair to continue declining to 1.4750.

GBP/USD: wave analysis

GBP/USD: wave analysis

GBP/USD: wave analysis

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