GBPUSD: Elliott wave analysis and forecast for 12.05.23 – 19.05.23
Main scenario: consider short positions from corrections below the level of 1.2681 with a target of 1.2240 – 1.2137.
Alternative scenario: breakout and consolidation above the level of 1.2681 will allow the pair to continue rising to the levels of 1.2860 – 1.3050.
Analysis: the fifth wave of larger degree V presumably finished developing on the daily chart, with wave 5 of V formed as its part. A bearish correction finished developing as the second wave (2) on the H4 chart, and the third wave (3) started unfolding, with the first wave of smaller degree 1 of (3) formed as... Read full author’s opinion and review in blog of #LiteFinance https://bit.ly/3BhNXpZ
