GBPUSD Wave analysis and forecast for 30.06 – 07.07

Wave analysis and forecast for 30.06 – 07.07: Uptrend continues.

Estimated pivot point is at the level of 1.2906.

Analysis: Presumably, the formation of the fifth wave of the senior level continues on the four-hour timeframe. At the moment, it is likely that the formation of the upward impetus as the wave i of 5, continues. If this assumption is correct the pair can continue to rise up to 1.3150. Critical level for this scenario is 1.2906.

Alternative scenario: Breakdown and consolidation of the price below the level of 1.2906 will trigger further decline in the pair to 1.2704.

Our opinion: Buy the pair from correction above the level of 1.2906 with the target of 1.3150. In case of breakdown of the level of 1.2906 sell with the target of 1.2704.

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