GBP / USD pair

<p>Analysis: as part of the daily timeframe, the fifth wave of the senior level V is supposedly continuing to develop, within which the correction as wave (2) of V is completed. On the 4-hour timeframe, the third wave (3) of V is developing, in which wave 3 is formed of (3) and correction as wave 4 of (3) has completed. As part of the hourly timeframe, the formation of the fifth wave 5 of (3) is likely to begin, and if the assumption is correct, then the pair will continue to decline to marks 1.1177 – 1.0687. Critical to this scenario is the level of 1.2738, a breakdown of which will allow the pair to continue to grow to marks 1.3201 – 1.3509. </p>
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<p> The main scenario: “short positions” are relevant below the level of 1.2738 with the target of 1.1177 – 1.0687. </p>