GBP/USD: wave analysis on 24.06.2015

June 24, 2015

Uptrend continues.

Presumably, the development of the “bullish” impetus continues within the wave Ñ of 2 of the senior level. At the moment, it seems that the third wave of the impetus iii of Ñ has been formed and the correction as the fourth wave iv of C has completed. If this assumption is correct and the price does not decline below 1.5700, the pair will likely to grow to 1.6000–1.6170.

Trading tips

Buy the pair from correction above the level of 1.5700 with the targets of 1.6000–1.6170.

Alternative scenario

Breakdown and consolidation of the price below the level of 1.5700 will enable the price to continue to decline to 1.5600–1.5500 within correction.

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