Hello friends, in currency pairs GBP USD we saw an upward trend and after that we considered a correction, which waves A and B have been completed and we are also in wave C.
Wave A of this wave has occurred in the form of 5 small waves, and wave B has probably been completed, but the overall trend will be downward.
It may correct some of this decline and continue its downward trend, but what I expect is a decline in price because probably wave 3 has started from C, which will be the strongest wave.
Wave C in zigzags will be at least as long as wave A and can advance up to 1.618 or 2.618 times wave A.
Therefore, we will wait for the price to drop to around 1.1780 and the next target is 1.1097.
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Wave A of this wave has occurred in the form of 5 small waves, and wave B has probably been completed, but the overall trend will be downward.
It may correct some of this decline and continue its downward trend, but what I expect is a decline in price because probably wave 3 has started from C, which will be the strongest wave.
Wave C in zigzags will be at least as long as wave A and can advance up to 1.618 or 2.618 times wave A.
Therefore, we will wait for the price to drop to around 1.1780 and the next target is 1.1097.
I recommend you to support me and to see my analysis, install Trading View software on your phone and support me with your comments and Boost.
Be successful and profitable.