Forex4you

GBP/USD: within the midterm descendant structure

Wave analysis

Technical analysis

Fundamental analysis

Complex analysis

   In accordance with the midterm forecast the development of the H4 descendant cycle within the time-range is further observed. The interesting situation with the possibility for sales develops here. The top edge of the equispaced channel and the pivot-level at 1.6116 can be considered as the support level. Thereupon the further decrease is expected; the potential target is at 1.5623.

   The alternative scenario is the fixation higher than 1.6116; here the target is at 1.6211 with the possibility for the structure’s revision.

Analysis prepared by:

Maxim Dmitrievsky
Forex4you analyst