Main state of affairs: contemplate quick positions from corrections under the extent of 1.2264 with a goal of 1.1405 – 1.1154.
Alternative state of affairs: breakout and consolidation above the extent of 1.2264 will enable the pair to proceed rising to the degrees of 1.2674 – 1.3000.
Analysis: the fifth wave of bigger diploma V presumably completed growing on the each day chart, with wave 5 of V shaped as its half. The first ascending wave of smaller diploma (1) completed forming, and a bearish correction began growing because the second wave (2) on the H4 chart. Apparently, wave А of (2) is growing on the H1 chart, with the third wave of smaller diploma iii of A forming inside. If this assumption is right, the pair will proceed to fall to 1.1405 – 1.1154. The degree of 1.2264 is vital on this state of affairs as a breakout will allow the pair to proceed rising to the degrees of 1.2674 – 1.3000.
Price chart of GBPUSD in actual time mode
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