GBPUSD: Elliott wave analysis and forecast for 19.07.24 – 26.07.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 1.2610 with a target of 1.3250 – 1.3740. A buy signal: after the level of 1.2610 is broken. Stop Loss: 1.2500, Take Profit: 1.3740. Alternative scenario: breakout and consolidation below the level of 1.2610 will allow the pair to continue declining to the levels of 1.2300 – 1.2030. A sell signal: after the level of 1.2610 is broken. Stop Loss: 1.2710, Take Profit: 1.2030.Main scenario