GBP/USD: Wave analysis and forecast for 11.03 – 18.03: The pair is undergoing correction. The rise in the pair is possible.

Estimated pivot point is at the level of 1.4115.

Our opinion: Sell the pair from correction above the level of 1.4115 with the targets of 1.45 – 1.4690.

Alternative scenario: Breakout and consolidation of the price below the level of 1.4115 will enable the pair to continue decline to the level of 1.3835.

Analysis: Presumably, the formation of the downward impetus has completed in the third wave 3 of the senior level. At the moment it seems that upward correction is being developed as the fourth wave, within which a zigzag abc is being developed. If this assumption is correct, the pair will continue to rise up to 1.45 – 1.46.

GBP/USD: Wave analysis and forecast for 11.03 – 18.03

GBP/USD: Wave analysis and forecast for 11.03 – 18.03




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.



!-- Go to www.addthis.com/dashboard to customize your tools -->