GBPUSD: Elliott wave analysis and forecast for 08.12.23 – 15.12.23

Main scenario: consider short positions from corrections below the level of 1.2730 with a target of 1.2300 – 1.2030.

Alternative scenario: breakout and consolidation above the level of 1.2730 will allow the pair to continue rising to the levels of 1.2876 – 1.3000.

Analysis: the first wave of larger degree (1) is presumably formed on the daily chart, and a bearish correction continues developing as second wave (2). Wave А of (2) is formed on the H4 time frame, and a bullish correction is presumably completed as wave В of (2). Apparently, a bearish wave С of (2) started developing… Read full author’s opinion and review in blog of #LiteFinance