Main situation: take into account quick positions from corrections beneath the extent of 1.2444 with a goal of 1.1655 – 1.1405.
Alternative situation: breakout and consolidation above the extent of 1.2444 will enable the pair to proceed rising to the degrees of 1.2700 – 1.3050.
Analysis: the fifth wave of bigger diploma V presumably completed growing on the day by day chart, with wave 5 of V shaped as its half. On the H4 chart, the primary ascending wave (1) completed forming. A bearish correction is growing because the second wave (2), with wave А of (2) shaped as its half. On the H1 chart, apparently an area correction completed growing as wave В of (2), and wave C of (2) began forming. If the presumption is appropriate, the pair will proceed to drop to the degrees of 1.1655 – 1.1405. The degree of 1.2444 is vital on this situation as a breakout will allow the pair to proceed rising to the degrees of 1.2700 – 1.3050.
Price chart of GBPUSD in actual time mode
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