The pair GBP/USD remains likely to grow. Estimated pivot point is at a level of 1.2485.
Main scenario: consider long positions from corrections above the level of 1.2485 with a target of 1.2800 – 1.3150.
Alternative scenario: breakout and consolidation below the level of 1.2485 will allow the pair to continue declining to the levels of 1.2204 – 1.2069.
Analysis: Supposedly, the fifth wave of larger degree V finished developing on the daily time frame, with wave (С) of V completed and the first wave (1) developing inside. On the H4 time frame, wave 1 of (1) formed, a local…
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