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GBPUSD, Elliot Wave Analysis

8/2/2022 11:20 AM

The pair may grow.

On the daily chart, the first wave of the higher level (1) formed, and a downward correction ended as the second wave (2). Now, the development of the upward third wave (3) has started, within which the first entry wave of the lower level (i) of i of 1 of (3) is developing. If the assumption is correct, the GBP/USD pair will grow to the levels of 1.2495–1.2674. In this scenario, critical stop loss level is 1.1892.

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