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GBPUSD, Elliot Wave Analysis
8/30/2022 11:27 AMA fall is possible.
On the daily chart, the first wave of the higher level (1) forms and a downward correction develops as the second wave (2), within which the wave C of (2) forms. Now, the fifth wave of the lower level v of C of (2) is developing, within which the wave (v) of v of C is forming. If the assumption is correct, the GBP/USD pair will fall to the area of 1.1550–1.1450. In this scenario, critical stop loss level is 1.1887.
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