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GBPUSD, Elliot Wave Analysis
9/13/2022 11:09 AMThe pair is in a correction and may grow.
On the daily chart, the fifth wave of the higher level V develops, within which the wave (1) of V formed. Now, the fifth wave of the lower level 5 of (1) has ended, and an upward correction has started as the wave (2) of V, within which the wave i of A of (2) is forming. If the assumption is correct, the GBP/USD pair will grow to the area of 1.2504–1.2854. In this scenario, critical stop loss level is 1.1387.
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