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GBPUSD, Elliot Wave Analysis
1/31/2023 10:15 AMGrowth is possible.
On the daily chart, the downward fifth wave of the higher level 5 of (V) ended, within which the wave (5) of 5 formed, and the first upward wave (1) forms. Now, the third wave of the lower level 3 of (1) is developing, the wave iii of 3 has formed, a local correction has ended as the wave iv of 3, and the wave v of 3 develops. If the assumption is correct, the GBP/USD pair will grow to the area of 1.2900–1.3500. In this scenario, critical stop loss level is 1.2091.
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