GBPUSD: Elliott wave analysis and forecast for 23.08.24 – 30.08.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 1.2791 with a growth target of 1.3400 – 1.3740. A buy signal: after the price consolidates above 1.2791. Stop Loss: below 1.2760, Take Profit: 1.3400 – 1.3740. Alternative scenario: breakout and consolidation below the level of 1.2791 will allow the pair to continue declining to the levels of 1.2478 – 1.2300. A sell signal: after the level of 1.2791 is broken to the downside. St