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GBPUSD, Elliot Wave Analysis

11/8/2022 10:26 AM

Growth is possible.

On the daily chart, the downward fifth wave of the higher level V of (V) ended, within which the wave (5) of V formed. Now, the development of the upward first wave (1) has started, and the third wave of the lower level 3 of (1) is forming. If the assumption is correct, the GBP/USD pair will grow to the area of 1.2281–1.2590. In this scenario, critical stop loss level is 1.0920.

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