Estimated pivot point is at a level of 1.2090.
Main scenario: short positions will be relevant from corrections below the level of 1.2090 with a target of 1.1947 – 1.1903.
Alternative scenario: breakout and consolidation above level 1.2090 will allow the pair to continue rise to the level of 1.2230.
Analysis: supposedly, the fifth wave 5 in the form of diagonal triangle continues forming inside the first wave 1 of senior level within 4-hour timeframe. Apparently, the third wave iii of 5 has completed forming and wave iv of 5 is starting to form. If the presumption is correct, the pair will continue to drop to the levels of 1.1947 – 1.1903. The level 1.2090 is critical in this scenario.
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GBP/USD
Estimated pivot point is at a level of 1.3494.
Main scenario: long positions will be relevant from corrections above the level of 1.3494 with a target of 1.3657 – 1.3700.
Alternative scenario: breakout and consolidation below level 1.3494 will allow the pair to continue drop to the level of 1.3296.
Analysis: supposedly, the fifth wave 5 of (1) of senior level continues developing within 4-hour timeframe. Apparently, the wave v of 5 of junior level is forming locally, the pair is likely to continue rise to the levels of 1.3657 – 1.3700 inside. If the presumption is correct, the pair the pair will continue to drop to the levels of 1.3657 – 1.3700 inside The level 1.3494. is critical in this scenario.
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Estimated pivot point is at a level of 0.9800.
Main scenario: short positions will be relevant below level 0.9800 with a target of 0.9610.
Alternative scenario: breakout and consolidation above level 0.9800 will allow the pair to continue rising to the level of 0.9915.
Analysis: supposedly a descending correction in the form of wave (B) of senior level continues developing within 4-hour timeframe. Apparently, bullish momentum continues developing is in the form of wave (c) of ii, wave (v) of c started formation inside. If the presumption is correct, the pair may continue declining to the levels 0.9655 – 0.9610. The level 0.9800 is critical in this scenario.
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Estimated pivot point is at a level of 112.03.
Main scenario: long positions will be relevant from corrections above the level of 112.03 with a target of 114.73.
Alternative scenario: breakout and consolidation below level 112.03 will allow the pair to continue drop to the level of 1.3296.
Analysis: supposedly, wave (С) of senior level continues developing within 4-hour timeframe. Wave 3 of C started forming inside it. Apparently, the descending correction in the form ii of 3 has completed, and wave iii of 3 has started forming. If the presumption is correct, the pair will continue rising to the level of 114.73. The level 112.03 is critical in this scenario.
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Estimated pivot point is at a level of 1.2465.
Main scenario: long positions will be relevant from corrections above the level of 1.2465 with a target of 1.2792 – 1.2920
Alternative scenario: breakout and consolidation below level 0.9800 will allow the pair to continue declining to the level of 1.2390.
Analysis: supposedly, the correction has completed within 4-hour timeframe in the form of wave (2) of 5 of senior level, currently shaped like a plane, and reached the correctional level of 50%. Apparently, the price is starting to reverse. If the presumption is correct, it is reasonable to expect the pair rise to the levels of 1.2792 – 1.2920. The level 1.2390 is critical in this scenario. The pair will continue declining, having outbroken this level.
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