The pair GBP/USD is still likely to fall. Estimated pivot point is at a level of 1.2973.
Main scenario: short positions will be relevant from corrections below the level of 1.2973 with a target of 1.2700 – 1.2606.
Alternative scenario: breakdown and consolidation above the level of 1.2973 will allow the pair to continue the rise up to the levels of 1.3167 – 1.3387.
Analysis: Supposedly, a descending correction of senior level in the form of the zigzag-shaped second wave (2) finished developing on the daily time frame. On the H4 time frame, wave (3) has started forming, with the…
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