A growth is expected.

Assumingly, a large Bearish correction within wave B of 2 has finished forming. Locally, wave c of B seems to have finished forming and a starting impulse (i) is developing. If the assumption is correct and the price does not break down the critical level of 1.5021, the pair continues growing towards 1.5500, 1.5600.

Trading tips

Buy the pair above the level of 1.5021 with targets at 1.5500, 1.5600.

Alternative scenario

The breakdown and consolidation below the level of 1.5021 would allow the pair to fall to 1.4900, 1.4820.

GBP/USD: wave analysis

GBP/USD: wave analysis

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