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GBPUSD, Elliot Wave Analysis
8/16/2022 11:38 AMGrowth is possible.
On the daily chart, the first wave of the higher level (1) formed, a downward correction ended as the second wave (2), and the third upward the wave (3) started. Now, the first entry wave of the lower level (i) of i of 1 of (3) has started, and a local correction is developing as the second wave (ii) of i. If the assumption is correct, after the end of the correction, the GBP/USD pair will grow to the area of 1.2390–1.2674. In this scenario, critical stop loss level is 1.1760.
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