GBPUSD: Elliott wave analysis and forecast for 01.03.24 – 08.03.24

Main scenario: consider short positions from corrections below the level of 1.2699 with a target of 1.2427 – 1.2332.Alternative scenario: breakout and consolidation above the level of 1.2699 will allow the pair to continue rising to the levels of 1.2820 – 1.3000.Analysis: the first wave of larger degree (1) is presumably formed, a correction developed as second wave (2), and the ascending third wave (3) started unfolding on the daily chart. The first wave of smaller degree 1 of (3) i