GBPUSD
W1 - The price has corrected by 60% from the first wave, which may lead to the potential formation of the 3rd wave.
D1 - The price moves in a range, for sales, confirmation is required to open positions. It will be possible to consider it after fixation and retest behind the trend line.
H4 - If you are considering purchases, you can buy from the lower border with the potential to break through the upper border. (Cancellation when fixing behind the trend line) To exit purchases and consider selling, it is better to wait for fixation behind the trend line and the formation of a 3-wave structure, which will give the opportunity enter at the beginning of the 3rd wave.
What can you expect?
You can consider entering from the level ~1.25368 - 1.24930 (wait for the level to be fixed, the best option would be to wait for a retest after fixation) with further movement to the target 1.21853. Cancellation of the idea so as not to take increased risk on the idea levels beyond the end of the 2nd wave or 1st - 1.25945 - 1.26452
Short
Targets 1.22476 - 1.23733 - 1.23060 - 1.21853
W1 - The price has corrected by 60% from the first wave, which may lead to the potential formation of the 3rd wave.
D1 - The price moves in a range, for sales, confirmation is required to open positions. It will be possible to consider it after fixation and retest behind the trend line.
H4 - If you are considering purchases, you can buy from the lower border with the potential to break through the upper border. (Cancellation when fixing behind the trend line) To exit purchases and consider selling, it is better to wait for fixation behind the trend line and the formation of a 3-wave structure, which will give the opportunity enter at the beginning of the 3rd wave.
What can you expect?
You can consider entering from the level ~1.25368 - 1.24930 (wait for the level to be fixed, the best option would be to wait for a retest after fixation) with further movement to the target 1.21853. Cancellation of the idea so as not to take increased risk on the idea levels beyond the end of the 2nd wave or 1st - 1.25945 - 1.26452
Short
Targets 1.22476 - 1.23733 - 1.23060 - 1.21853