GBP/USD Wave analysis and forecast for 28.02 – 07.03: The pair is likely to decline. Estimated pivot point is at the level of 1.6825.
For Detail Analysis, Trading Signals and Complete Forex Training In Urdu Call Us +92-300-6561240, Or Visit http://www.pakeagle.com.pk
Our opinion: Sell the pair from correction below the level of 1.6825 with the target of 1.65 – 1.63.
Alternative scenario: Breakout of the level 1.6825 will enable the pair to continue growth to the levels of 1.69 – 1.70.
Analysis: Presumable, the formation of the large ascending momentum in the first wave has completed. Locally, it is not excluded has the first in-lead waves of the large downward correction are being formed. If this assumption is true, the pair will continue to decline to the level of 1.65. Feasibility of his scenario will be proved by breakdown of the level of 1.6247.
