GBPUSD: Elliott wave analysis and forecast for 26.03.21 – 02.04.21
Main scenario: consider short positions from corrections below the level of 1.4007 with a target of 1.3552 – 1.3158.
Alternative scenario: breakout and consolidation above the level of 1.4007 will allow the pair to continue rising to the levels of 1.4237 – 1.4400.
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 third wave of smaller degree iii of A is developing on the H1 time... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/cCDH
