GBP/USD: Elliott wave analysis and forecast for 18.10.24 – 25.10.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 1.2920 with a target of 1.3600 – 1.3800. A buy signal: if the price holds above 1.2920. Stop Loss: below 1.2880, Take Profit: 1.3600 – 1.3800. Alternative scenario: breakout and consolidation below the level of 1.2920 will allow the pair to continue declining to the levels of 1.2600 – 1.2288. A sell signal: once the level of 1.2920 is broken to the downside. Stop Loss: above 1.2