GBPUSD: Elliott wave analysis and forecast for 31.12.21 – 07.01.22
Main scenario: consider short positions from corrections below the level of 1.3575 with a target of 1.2831 – 1.2481.
Alternative scenario: breakout and consolidation above the level of 1.3575 will allow the pair to continue rising to the levels of 1.3832 – 1.4050.
Analysis: Daily chart: the first wave of larger degree (1) has formed and a downside correction continues forming as wave (2). Wave C of (2) is forming on the H4 chart, with the third wave of smaller degree iii of C competed as its part. Apparently, corrective wave iv of C is near completion on the H1... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/jtHCH
