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GBPUSD Elliott Wave Analysis and Forecast for the Week of March 18th to March 25th

Short positions from corrections below 1.3396 with a target of 1.2831 – 1.2487 are the main scenario.

Alternative scenario: The pair will continue to rise to levels of 1.3638 – 1.4000 if it breaks out and consolidates above the level of 1.3396.

On the daily chart, the first wave of larger degree (1) has developed, and a descending corrective is developing as wave 2. (2). Wave B of (2) has completed on the H4 chart, and wave C of (2) is currently developing. The third wave of smaller degree iii of C looks to have formed on the H1 chart, and the fourth wave iv of C is emerging as a local correction. If this prediction is right, the pair will continue to decrease when the local correction ends, to 1.2831 – 1.2487. In this scenario, the level of 1.3396 is key, as a breakout will allow the pair to continue advancing to levels of 1.3638 – 1.4000.

GBPUSD Elliott Wave Analysis and Forecast for the Week of March 18th to March 25th
GBPUSD Elliott Wave Analysis and Forecast for the Week of March 18th to March 25th
GBPUSD Elliott Wave Analysis and Forecast for the Week of March 18th to March 25th
GBPUSD Elliott Wave Analysis and Forecast for the Week of March 18th to March 25th
GBPUSD Elliott Wave Analysis and Forecast for the Week of March 18th to March 25th
GBPUSD Elliott Wave Analysis and Forecast for the Week of March 18th to March 25th



 




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