GBP/USD: Wave analysis and forecast for 25.03 – 01.04: Downtrend has resumed.

Estimated pivot point is at the level of 1.4507.

Our opinion: Sell the pair from correction below the level of 1.4507 with the target of 1.36 – 1.34.

Alternative scenario: Breakout and consolidation of the price above the level of 1.4507 will enable the pair to continue the rise up to the level of 1.47.

Analysis: Presumably, the formation of the upward correction as the fourth wave 4 of the senior level, which took the shape of a zigzag, has completed. Locally it seems that the first one-two wave as an impetus (i) has developed. If this assumption is correct after the completion of the correction the pair may decline to the levels of 1.36 – 1.34. Critical level for this scenario is 1.4507.



Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

Follow us in social networks!
Live Chat
Leave feedback