GBP/USD: Wave analysis and forecast for 26.02 – 04.03: Downtrend continues.

Estimated pivot point is at the level of 1.4213.

Our opinion: Sell the pair from correction below the level of 1.4213 with the targets of 1.3750 – 1.34.

Alternative scenario: Breakout and consolidation of the price above the level of 1.4213 will enable the pair to continue the rise to the levels of 1.4250 – 1.4350.

Analysis: Presumably, “bearish” impetus continues to develop in the third wave of the senior level. At the moment it seems that the fifth wave of the junior is being developed. Within this wave extension of the momentum in the third wave (iii) is being formed. If this assumption is correct, the pair will continue to decline to 1.3950 – 1.3850.

GBP/USD: Wave analysis and forecast for 26.02 – 04.03

GBP/USD: Wave analysis and forecast for 26.02 – 04.03




The material published on this page is produced by LiteForex and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.



Follow us in social networks!
Live Chat
Leave feedback