GBPUSD: Elliott wave analysis and forecast for 13.01.2023 – 20.01.2023
Main scenario: consider long positions from corrections above the level of 1.1842 with a target of 1.2442 – 1.2674. Alternative scenario: breakout and consolidation below the level of 1.1842 will allow the pair to continue declining to the levels of 1.1677 – 1.1500. 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 upward wave (1) started developing on the H4 chart, with the third wave of smaller degree 3 of (1) formed and a local correction completed as the fourth wave 4 of... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions from corrections above the level of 1.1842 with a target of 1.2442 – 1.2674.
Alternative scenario: breakout and consolidation below the level of 1.1842 will allow the pair to continue declining to the levels of 1.1677 – 1.1500.
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 upward wave (1) started developing on the H4 chart, with the third wave of smaller degree 3 of (1) formed and a local correction completed as the fourth wave 4 of... Read full author’s opinion and review in blog of #LiteFinance
