GBP/USD Wave analysis and forecast for 14.03 – 21.03: Decline in the pair is likely to continue. Estimated pivot point is at the level of 1.6785.
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Our opinion: Sell the pair from correction below the level of 1.6725 with the targets of 1.65 – 1.63.
Alternative scenario: Breakout of the level 1.6785 will enable the pair to continue growth to the levels of 1.69 – 1.70.
Analysis: Presumably, the formation of the large ascending impetus in the first wave has completed. . Locally, the first wave a of 2, of the downward large correction is being formed, within which the third wave of the junior level 3 of a of 2 is being developed. If this assumption is true, the pair will continue to decline to the level 1.64
