FX.co ★ GBP/USD

An alternative bullish scenario for GBP/USD. Analysis of the GBP/USD currency pair on the H4 chart, taking into account a multi-timeframe approach (Elliott Wave Analysis, MACD, exponential moving averages 55, 89, 144), indicates a probable continuation of the corrective uptrend within wave "x". An update of the key level at 1.3511 is expected. After this uptrend is completed, a price decrease is forecasted with the target of breaking through the level at 1.3302. Subsequently, a resumption of the higher-order bullish trend is anticipated. The probability of realization, without considering correlation with related markets, is high.