GBP/USD: Wave Analysis and Forecast for 01.04 – 08.04

GBP/USD: Wave Analysis and Forecast for 01.04 – 08.04

3 April 2016, 14:48
Roberto Jacobs

GBP/USD: Wave Analysis and Forecast

GBP/USD: Wave analysis and forecast for 01.04 – 08.04: The pair is likely to decline.

Estimated pivot point is at the level of 1.4460.

Our opinion: Sell the pair from correction below the level of 1.4460 with the target of 1.36 – 1.34.

Alternative scenario: Breakout and consolidation of the price above the level of 1.4460 will enable the pair to continue the rise up to the level of 1.47.

Analysis: Presumably, the formation of the fifth wave of the senior level continues. Locally, it is likely that the one-two impetus as the first wave i of 5 has developed, and upward correction ii of 5 has completed. If this assumption is correct, the pair may decline to 1.36 – 1.34. Critical level for this scenario is 1.4460.



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