GBP/USD: Elliott Wave Analysis and Forecast for 28.02.25 – 07.03.25

Major Takeaways Main scenario: consider long positions from corrections above the level of 1.2500 with a target of 1.2775 – 1.2930. A buy signal: the level of 1.2500 is broken to the upside. Stop Loss: below 1.2450, Take Profit: 1.2775 – 1.2930. Alternative scenario: breakout and consolidation below the level of 1.2500 will allow the pair to continue declining to the levels of 1.2100 – 1.1900. A sell signal: the level of 1.2500 is broken to the downside. Stop Loss: above 1.2550