The pair GBP/USD remains likely to grow under correction. Estimated pivot point is at a level of 1.2907.
Main scenario: long positions should be considered from corrections above the level of 1.2907 with a target of 1.3210 – 1.3281.
Alternative scenario: breakout and consolidation below the level of 1.2907 will allow the pair to continue declining to the levels of 1.2735 – 1.2546.
Analysis: Supposedly, a descending correction of senior level in the form of a 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…
Read full author’s opinion and review in blog of #LiteForex