GBP/USD: market analysis on 04.06.2015

June 4, 2015

The pair is expected to grow.

Presumably, a bearish correction within a zigzag-shaped wave B is completed. Apparently, a reversal and the first counter-trend wave of junior level (i) have formed by now. If this assumption is correct and the price does not break the critical level 1.5167, it's logical to expect the pair to grow to a level of 1.5700 in the framework of 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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