GBPUSD: Elliott wave analysis and forecast for 06.01.23 – 13.01.23
Main scenario: consider long positions above the level of 1.1673 with a target of 1.2674 – 1.2963 once the correction is completed. Alternative scenario: breakout and consolidation below the level of 1.1673 will allow the pair to continue declining to the levels of 1.1488 – 1.1280. Analysis: the fifth wave of larger degree V presumably finished developing on the daily chart, with wave 5 of V formed as its part. The first ascending wave (1) started developing on the H4 chart, with the third wave of smaller degree 3 of (1) formed as its part. On the H1 chart, a... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions above the level of 1.1673 with a target of 1.2674 – 1.2963 once the correction is completed.
Alternative scenario: breakout and consolidation below the level of 1.1673 will allow the pair to continue declining to the levels of 1.1488 – 1.1280.
Analysis: the fifth wave of larger degree V presumably finished developing on the daily chart, with wave 5 of V formed as its part. The first ascending wave (1) started developing on the H4 chart, with the third wave of smaller degree 3 of (1) formed as its part. On the H1 chart, a... Read full author’s opinion and review in blog of #LiteFinance
