GBPUSD: Elliott wave analysis and forecast for 09.04.21 – 16.04.21
Main scenario: consider short positions from corrections below the level of 1.3917 with a target of 1.3572 – 1.3158.
Alternative scenario: breakout and consolidation above the level of 1.3917 will allow the pair to continue rising to the levels of 1.4021 – 1.4237.
Analysis: Presumably, the first wave of larger degree (1) finished developing, with wave 5 of (1) formed inside, in the daily timeframe. A downward correction started developing as wave (2) in the H4 time frame, with wave A of (2) forming inside. Apparently, the fifth wave of smaller degree v of A is forming in the H1... Read full author’s opinion and review in blog of #LiteForex http://amp.gs/cFMi
