GBP/USD remains likely to grow. Estimated pivot point is at a level of 1.2642.
Main scenario: consider long positions from corrections above the level of 1.2642 with a target of 1.2820 – 1.2980.
Alternative scenario: breakout and consolidation below the level of 1.2642 will allow the pair to continue declining to the levels of 1.2505 – 1.2436.
Analysis: Supposedly, the fifth wave of larger degree V finished developing on the daily time frame, with wave (С) of V completed inside. On the H4 time frame, supposedly, the first counter-trend wave (1) of 1 formed and a local correction finished developing…
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