EnglishMyanmar (Burmese)

GBPUSD: Elliott wave analysis and forecast for 25.02.22 – 04.03.22

Main scenario: consider long positions from corrections above the level of 1.3155 with a target of 1.4000 – 1.4238.

Alternative scenario: breakout and consolidation below the level of 1.3155 will allow the pair to continue declining to the levels of 1.2831 – 1.2487.

Analysis: the first wave of larger degree (1) formed on the daily chart, and a descending correction developed as wave (2), supposedly. The third wave (3) has started developing on the H4 chart, with the first wave of smaller degree i of 1 of (3) formed and a downside correction coming to an end as the second wave ii of 1 inside. Apparently, wave (с) of ii is nearing completion on the H1 chart. If the presumption is correct, the pair’s growth can be expected to resume to the levels of 1.4000 – 1.4238. The level of 1.3155 is critical in this scenario as its breakout will enable the pair to continue declining to the levels of 1.2831 – 1.2487.

LiteFinance: GBPUSD: Elliott wave analysis and forecast for 25.02.22 – 04.03.22 | LiteFinance


Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission.

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.