OANDA:GBPUSD   Pound British/Dolar U.S
Correction is ending, the pair can fall.

On the 4-hour chart the upward correction has formed as a wave B of the higher level. Locally the wave C, within which the formation of the upward correction of the lower level ii of C is ending, is developing. If the assumption is correct, the price will fall to the levels of 1.3218–1.3030. The level of 1.3543 is critical for this scenario.

Main scenario

Short positions will become relevant below the level of 1.3543 with the targets at 1.3218–1.3030.

Alternative scenario

The breakout and the consolidation of the price above the level of 1.3543 will let the pair grow to the level of 1.3657.

Trade

Scenario

Timeframe Weekly
Recommendation SELL
Entry Point 1.3463
Take Profit 1.3218, 1.3030
Stop Loss 1.3545
Key Levels 1.3030, 1.3218, 1.3543, 1.3657

Alternative scenario

Recommendation BUY STOP
Entry Point 1.3550
Take Profit 1.3657
Stop Loss 1.3490
Key Levels 1.3030, 1.3218, 1.3543, 1.3657
More analytic from LiteForex:
English https://www.liteforex.com/trading/forex-analysis/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
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