GBPUSD: Elliott wave analysis and forecast for 31.03.23 – 07.04.23
Main scenario: consider long positions from corrections above the level of 1.2190 with a target of 1.2700 – 1.3050. Alternative scenario: breakout and consolidation below the level of 1.2190 will allow the pair to continue declining to the levels of 1.2003 – 1.1793. 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 bullish wave (1) is complete on the H4 chart. A bearish correction finished developing as the second wave (2). Apparently, the third wave (3) started developing on the H1 chart, with... Read full author’s opinion and review in blog of #LiteFinance
Main scenario: consider long positions from corrections above the level of 1.2190 with a target of 1.2700 – 1.3050.
Alternative scenario: breakout and consolidation below the level of 1.2190 will allow the pair to continue declining to the levels of 1.2003 – 1.1793.
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 bullish wave (1) is complete on the H4 chart. A bearish correction finished developing as the second wave (2). Apparently, the third wave (3) started developing on the H1 chart, with... Read full author’s opinion and review in blog of #LiteFinance
