GBPUSD: Elliott wave analysis and forecast for 24.02.23 – 03.03.23
Main scenario: consider short positions from corrections below the level of 1.2146 with a target of 1.1405 – 1.1154. Alternative scenario: breakout and consolidation above the level of 1.2146 will allow the pair to continue rising to the levels of 1.2674 – 1.3000. 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 of smaller degree (1) finished forming, and a bearish correction is developing as the second wave (2) on the H4 chart. Apparently, wave А of (2) continues developing on... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider short positions from corrections below the level of 1.2146 with a target of 1.1405 – 1.1154.
Alternative scenario: breakout and consolidation above the level of 1.2146 will allow the pair to continue rising to the levels of 1.2674 – 1.3000.
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 of smaller degree (1) finished forming, and a bearish correction is developing as the second wave (2) on the H4 chart. Apparently, wave А of (2) continues developing on... Read full author’s opinion and review in blog of #LiteFinance
