GBPUSD: Elliott wave analysis and forecast for 19.03.2021 – 26.03.2021
Main scenario: consider short positions from corrections below the level of 1.4240 with a target of 1.3552 – 1.3158.
Alternative scenario: breakout and consolidation above the level of 1.4240 will allow the pair to continue rising to the levels of 1.4400 – 1.4550.
Analysis: Daily time frame: presumably, the first wave of larger degree (1) finished developing, with wave 5 of (1) formed inside. A downward correction started developing as wave (2) on the H4 time frame, with wave A of (2) forming inside. Apparently, the first counter-trend wave of smaller degree i of A formed, a correction developed as... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/QbRR
