GBP/USD: Elliott wave analysis and forecast for 11.10.24 – 18.10.24

Highlights and key points Main scenario: once the correction ends, consider long positions above the level of 1.2657 with a target of 1.3600 – 1.3800. A buy signal: if the price holds above 1.2657. Stop Loss: below 1.2580, Take Profit: 1.3600 – 1.3800. Alternative scenario: breakout and consolidation below the level of 1.2657 will allow the pair to continue declining to the levels of 1.2288 – 1.1993. A sell signal: once the level of 1.2657 is broken to the downside. Stop Loss: