GBP/USD Wave Analysis/Forecast: 16 – 23.02.18
Mayzus | Feb 16, 2018 10:21AM ET
GBP/USD
Estimated pivot point is at a level of 1.3760.
Main scenario: long positions will be relevant from corrections above the level of 1.3760 with a target of 1.4400 – 1.4500.
Alternative scenario: breakout and consolidation below the level of 1.3760 will allow the pair to continue declining to a level of 1.3480.
Analysis: The fifth wave 5 of (1) of senior level is supposed to continue forming within the 4-hour time frame. Apparently, the fifth wave of junior level v of 5 of (1) is forming locally. If the presumption is correct, the pair may continue growing to the levels 1.4400 – 1.4500. The level 1.3760 is critical in this scenario.
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