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.

Be the first to comment

Leave a Reply