The pair GBP/USD is still likely to grow. Estimated pivot point is at a level of 1.2598.
Main scenario: long positions will be relevant from corrections above the level of 1.2598 with a target of 1.3167 – 1.3387.
Alternative scenario: Breakout and consolidation below the level of 1.2598 will allow the pair to continue declining to the levels of 1.2197 – 1.1957.
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. On the H4 time frame, wave (3) has started forming, with the…
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