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GBP / USD wave analysis and forecast. The downtrend has resumed.
Recommendation: Sell the pair from correction below 1.45 for the purpose of 1.36 - 1.34.
Alternative scenario: A break and consolidation above the price level of 1.4507 will allow the pair to continue to grow to the level of 1.47.
Analysis: Presumably, formation of an upward correction in the fourth wave 4 senior level, which took the form of a zigzag. Locally, apparently, it formed the first wave in the form of lead-pulse (i), and if the assumption is true, after end of correction (ii) it is logical to expect decrease in pair to 1.36 - 1.34. Estimated pivot point is at 1.4507.
Recommendation: Sell the pair from correction below 1.45 for the purpose of 1.36 - 1.34.
Alternative scenario: A break and consolidation above the price level of 1.4507 will allow the pair to continue to grow to the level of 1.47.
Analysis: Presumably, formation of an upward correction in the fourth wave 4 senior level, which took the form of a zigzag. Locally, apparently, it formed the first wave in the form of lead-pulse (i), and if the assumption is true, after end of correction (ii) it is logical to expect decrease in pair to 1.36 - 1.34. Estimated pivot point is at 1.4507.
