GBP/USD: Wave analysis and forecast for 26/04/2019 – 03/05/2019

The GBP/USD pair is under correction, still likely to fall. Estimated pivot point is at a level of 1.3022.

Main scenario: short positions will be relevant from corrections below the level of 1.3022 with a target of 1.2773.

Alternative scenario: breakout and consolidation above the level of 1.3022 will allow the pair to continue the rise up to the levels of 1.3133 – 1.3271.

Analysis: Supposedly, a descending correction of senior level in the form of the second wave (2) finished developing within the daily frame in the form of a zigzag. On the H4 time frame, supposedly, the first...Read full author’s opinion