GBP/USD Wave analysis and forecast of 27.02 – 06.03: The pair is under correction.

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Estimated pivot point is at the level of 1.5550.

Our opinion: In the short term: sell the pair from correction below the level of 1.5550 with a target at 1.52. In the medium term, wait for correction to complete and buy the pair in the presence of confirming signals.

Alternative scenario: Consolidation above a level of 1.5550 will allow the pair to continue the rise up to levels 1.56 – 1.58.

Analysis: Presumably, the development of the first wave а of 2 under big bullish correction is completed. Correction in a form of wave b of 2 is forming locally, in a form of irregular flat surface. If the presumption is correct, after correction, the pair will logically continue to rise to the levels 1.58 – 1.60.

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GBP/USD Wave analysis and forecast of 07.11 – 14.11: Large “bullish” correction is expected in the pair.

Estimated pivot point is at the level of 1.60.

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Our opinion: In the short-term: sell the pair from correction below the level of 1.60 with the target of 1.5750. In the medium-term: wait for breakout of the level of 1.60 and buy from correction above the local lows, which has been formed at this moment, with the targets of 1.6300 – 1.6475.

Alternative scenario: Breakout and consolidation of the price below the level of 1.5750 will enable the price to continue the decline to the levels of 1.57 – 1.5650 in the bearish trend.

Analysis: Presumably, the formation of the wedge in the wave A continues. Locally, it seems that the fifth wave v of A is close to completion, and if this assumption is true, after breakdown of the level of 1.60, it makes sense to expect that the pair will grow in the wave B to the levels of 1.63 – 1.6470

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GBP/USD Wave analysis and forecast of 19.09 – 26.09: Correction is nearing completion. The pair is likely to decline.

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Estimated pivot point is at the level of 1.6450.

Our opinion: Sell the pair below the level of 1.6450 with the target of 1.59 – 1.5850.

Alternative scenario: Breakout and consolidation above the level of 1.6450 will make the price continue the rise up to the levels of 1.65 – 1.6550.

Analysis: Presumably, the formation of the downward impetus in the first wave of the deep medium-term correction continues. At the moment it is likely that the correction in the fourth wave is nearing completion. If this assumption is correct, the pair will soon continue to drop to the levels of 1.59 – 1.5850.

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GBP/USD Wave analysis and forecast of 29.08 – 05.09: Downtrend continues.

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Estimated pivot point is at the level of 1.6640.

Our opinion: Sell the pair from correction below the level of 1.6640 with the target of 1.64 – 1.63.

Alternative scenario: Breakout and consolidation above the level of 1.6640 will make the price continue the rise to the levels of 1.67 – 1.68 as part of the deep correction.

Analysis: Presumably, the formation of the downward impetus in the first wave of the deep medium-term correction continues. By all appearances, the forming of the local correction in the wave iv is nearing completion. If this assumption is correct and the price does not break down the critical level of 1.6640, the pair will continue to decline to the levels of 1.64 – 1.63.

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GBP/USD Wave analysis and forecast of 22.08 – 29.08: Downtrend continues.

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Estimated pivot point is at the level of 1.6640.

Our opinion: Sell the pair from correction below the level of 1.6640 with the target of 1.64 – 1.63.

Alternative scenario: Breakout and consolidation above the level of 1.6640 will make the price continue the rise to the levels of 1.67 – 1.68 as part of the deep correction.

Analysis: Presumably, the formation of the downward impetus in the first wave of the deep medium-term correction continues. By all appearances, the third wave has formed, and the local correction in the wave iv has started. If this assumption is correct and the price does not break down the critical level of 1.6640, the pair will continue to decline to the levels of 1.64 – 1.63.

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