GBPUSD: Elliott wave analysis and forecast for 02.08.24 – 09.08.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 1.2586 with a growth target of 1.3250 – 1.3740. A buy signal: after the level of 1.2586 is broken to the upside. Stop Loss: below 1.2550, Take Profit: 1.3250 – 1.3740. Alternative scenario: breakout and consolidation below the level of 1.2586 will allow the pair to continue declining to the levels of 1.2300 – 1.2050. A sell signal: after the level of 1.2586 is broken to the down