Forecast GBP / USD. The dollar is pushing the pound again

Posted 24 May, 2022

For the pair under consideration, the situation is similar to that which we observe for the EUR/USD pair. The price has been growing lately and at the moment, probably, has exhausted the resources to continue moving in an upward direction. In this regard, the beginning of a corrective decline is expected in the near future. At the same time, all these price fluctuations are formed as part of the development of wave iv of the downward impulse.

The expected trajectory of movement is indicated in the above graph. As you can see from it, everything, presumably, will end with another impulsive wave of sales, which will lead to the establishment of new lows.

In the meantime, it is worth considering short-term sales as part of the development of the correction.

 

Previous forecast

26 May, 2022 08:32

← Forecast EUR/USD. The price will continue to decline as part of the correction

The assumption that the euro will fall as part of the correction is still being confirmed.

Forecast EUR/USD. The price will continue to decline as part of the correction

Next forecast

24 May, 2022 08:12

Forecast EUR/USD. A corrective decline is about to begin →

The price, as expected, continued to grow and was able to set another local maximum.

Forecast EUR/USD. A corrective decline is about to begin
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