GBPUSD: Elliott Wave Analysis and Forecast for 08.11.24 – 15.11.24

Major Takeaways Main scenario: Consider short positions from corrections below the level of 1.3113 with a target of 1.2240 – 1.1900. A sell signal: the price holds below 1.3113. Stop Loss: above 1.3150, Take Profit: 1.2240 – 1.1900. Alternative scenario: Breakout and consolidation above the level of 1.3113 will allow the pair to continue rising to the levels of 1.3440 – 1.3800. A buy signal: the level of 1.3113 is broken to the upside. Stop Loss: below 1.3080, Take Profit: 1.34