A growth in the pair is possible.

Assumingly, a large Bearish correction within wave B of 2 has finished forming, and wave C of the senior level is starting developing. Locally, the first wave of the junior level (i) seems to be forming within which the third wave iii of (i) has, probably, finished. If the assumption is correct and the price does not break down the critical level of 1.4953, the pair continues growing towards 1.5330-1.5500 after the correction ends.

Trading tips

Buy the pair form corrections, above the level of 1.4953 with the target at 1.5330-1.5520.

Alternative scenario

The breakdown and consolidation below the level of 1.4953 would allow the pair to continue declining to 1.4850-1.4800.

GBP/USD: wave analysis

GBP/USD: wave analysis




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