GBPUSD: Elliott wave analysis and forecast for 15.12.23 – 22.12.23

Main scenario: consider long positions from corrections above the level of 1.2495 with a target of 1.3000 – 1.3147.

Alternative scenario: breakout and consolidation below the level of 1.2495 will allow the pair to continue declining to the levels of 1.2300 – 1.2030.

Analysis: the first wave of larger degree (1) is presumably formed on the daily chart, and a correction developed as second wave (2). A bullish third wave (3) has presumably started unfolding on the H4 time frame, with the first wave of smaller degree 1 of C developing as its part. Wave v of 1 appears to… Read full author’s opinion and review in blog of #LiteFinance