GBP/USD: WAVE ANALYSIS

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GBP/USD: WAVE ANALYSIS
Scenario
TimeframeWeekly
RecommendationBUY
Entry Point1.3354
Take Profit1.3700, 1.4200
Stop Loss1.3240
Key Levels1.2300, 1.2674, 1.2992, 1.3700, 1.4200
Alternative scenario
RecommendationSELL STOP
Entry Point1.2990
Take Profit1.2674, 1.2300
Stop Loss1.3095
Key Levels1.2300, 1.2674, 1.2992, 1.3700, 1.4200

Growth is possible.

On the daily chart, the third wave of the higher level (3) forms, within which the third wave of the lower level 3 of (3) develops. Now, the wave i of 3 has formed, a correction has ended as the wave ii of 3, and the wave iii of 3 is forming, within which a correction has ended as the wave (ii) of iii, and the wave (iii) of iii has formed. If the assumption is correct, the GBP/USD pair will grow to the area of 1.3700–1.4200. In this scenario, critical stop loss level is 1.2992.

GBP/USD: WAVE ANALYSIS

GBP/USD: WAVE ANALYSIS

Main scenario

Long positions will become relevant above the level of 1.2992 with the targets at 1.3700–1.4200. Implementation period: 7 days and more.

Alternative scenario

A breakout and the consolidation of the price below the level of 1.2992 will let the asset go down to the area of 1.2674–1.2300.


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