GBPUSD : Simple Elliott Wave Analysis and Forecast for May 18 - 20, 2022

GBPUSD : Simple Elliott Wave Analysis and Forecast for May 18 - 20, 2022

17 May 2022, 19:30
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--- GBPUSD simple Elliott Wave movement on a H1 timeframes for this week ---


as previously discussed at https://www.mql5.com/en/blogs/post/749036 now the price is right on the 1.2500 ✔️

current price compression occurs... now the bullish potential movement is quite strong considering that GBP is in a strong zone

( 65% probability ) Main scenario is Bullish  direct or after correction around 1.2400 target price RN 1.2600 to 1.2625

( 35% probability ) Alternative scenario is Bearish target price RN 1.2300 to 1.2250

View on the chart below 👀 

GBPUSD H1 Scenarios Movement

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Below Result May 23, 2022, Target RN 1.2600 Reached ✔️

Result GBPUSDH1_May 23, 2022

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