The pair GBP/USD is still likely to grow. Estimated pivot point is at a level of 1.2197.
Main scenario: long positions will be relevant from corrections above the level of 1.2197 with a target of 1.2704 – 1.2867.
Alternative scenario: Breakout and consolidation below the level of 1.2197 will allow the pair to continue declining to the levels of 1.1957 – 1.1580.
Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) finished developing on the daily time frame as a zigzag. Wave C of (2) stopped developing on the H4 time frame and…
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