GBP/USD: forecast for 09.06.2015

June 9, 2015

The pair is expected to grow.

Presumably, a bearish correction within a zigzag-shaped wave B is completed. Apparently, the first counter-trend wave of junior level (i) and its correction in a form of wave (ii) have formed by now. The latter has a shape of an irregular plane. If this assumption is correct and the price does not break the critical level 1.5167, it's logical to expect the pair to rise to a level of 1.5700 within an impetus forming in the first wave of senior level i of C.

Trading tips

Buy above the level of 1.5167 with a target at 1.5700.

Alternative scenario

Breakout and consolidation below the level of 1.5167 will allow the pair to continue declining to a level of 1.5040.

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