A growth is expected.

Assumingly, a large Bearish correction as wave B of 2 has finished forming. At present, wave c of B seems to have finished and taken the shape of the final diagonal triangle. Locally, a starting wave i of the junior level has, assumingly, formed. If the assumption is correct, the pair continues growing to 1.5330-1.5500. A critical for this scenario is the level of 1.4990.

Trading tips

Buy the pair above the level of 1.4990 with the target at 1.5330-1.5520.

Alternative scenario

The breakdown and consolidation below the level of 1.4990 would allow the pair to continue declining to 1.4950-1.4900.

GBP/USD: wave analysis

GBP/USD: wave analysis




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