GBPUSD: Elliott wave analysis and forecast for 19.02.2021 – 26.02.2021
Main scenario: consider long positions from corrections above the level of 1.3827 with a target of 1.4050 – 1.4200.
Alternative scenario: breakout and consolidation below the level of 1.3827 will allow the pair to continue declining to the levels of 1.3552 – 1.3298.
Analysis: Daily time frame: presumably, the first wave of larger degree (1) continues developing, with wave 5 of (1) forming inside. On the H4 time frame, the third wave of smaller degree iii of 5 formed and a correction finished developing in the form of wave iv of 5. Apparently, wave v of 5 is developing on... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/5aQi
