OANDA:GBPUSD   British Pound / U.S. Dollar
61 0 1
Upward trend maintains.

On the 4-hour chart, the fifth wave 5 of (1) of the higher level is developing. Locally the upward momentum is forming as a third wave iii             of 5, within which the fifth wave (v) of iii             is developing. If the assumption is correct, the pair will grow to the level of 1.4500. The level of 1.3980 is critical for this scenario.

Main scenario

Long positions will become relevant during the correction, above the level of 1.3980 with the target at 1.4500.

Alternative scenario

The breakdown and the consolidation of the price below the level of 1.3980 will let the pair go down to the levels of 1.3810–1.3480.

Trade

Scenario

Timeframe Weekly
Recommendation BUY
Entry Point 1.4260
Take Profit 1.4500
Stop Loss 1.4180
Key Levels 1.3480, 1.3810, 1.3980, 1.4500

Alternative scenario

Recommendation SELL STOP
Entry Point 1.3970
Take Profit 1.3810, 1.3480
Stop Loss 1.4030
Key Levels 1.3480, 1.3810, 1.3980, 1.4500
More analytic from LiteForex:
English https://www.liteforex.com/blog/?uid=880952068&cid=12118
Malay https://www.liteforex.my/trading/forex-analysis/?uid=880952068&cid=12118
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