GBPUSD: Elliott wave analysis and forecast for 15.09.23 – 22.09.23

Main scenario: consider short positions from corrections below the level of 1.2510 with a target of 1.2310 – 1.2083.

Alternative scenario: breakout and consolidation above the level of 1.2510 will allow the pair to continue rising to the levels of 1.2743 – 1.2990.

Analysis: the first wave of larger degree (1) is presumably formed on the daily chart, and a bearish correction started developing as second wave (2). Wave А of (2) is forming on the H4 chart, with a local correction completed as the fourth wave of smaller degree iv of А and the fifth wave v of A… Read full author’s opinion and review in blog of #LiteFinance