The pair GBP/USD remains likely to grow. Estimated pivot point is at a level of 1.3048.
Main scenario: long positions should be considered from corrections above the level of 1.3048 with a target of 1.3650 – 1.3800.
Alternative scenario: breakout and consolidation below the level of 1.3048 will allow the pair to continue declining to the levels of 1.2819 – 1.2700.
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 first wave 1…
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