GBP/USD Wave analysis and forecast for 25.04 – 02.05

GBP/USD Wave analysis and forecast for 25.04 – 02.05: The pair continues to decline.

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Estimated pivot point is at the level of 1.6760.
Our opinion: Buy the pair from correction above the level of 1.6760 with the target of 1.70.
Alternative scenario: Breakout of the level of 1.6760 will enable the price to continue decline to the levels of 1.67 – 1.66.
Analysis: Presumably, the formation of the fifth final wave of the ascending zigzag continues on the daily timeframe. Locally, it is possible that extension in the fifth shallow wave (v) of V of C is being formed. If this assumption is correct the pair will continue to grow to the level of 1.70.

GBPUSD-D1

GBPUSD-H4

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