GBPUSD: Elliott wave analysis and forecast for 30.08.24 – 06.09.24

Highlights and key points Main scenario: consider long positions from corrections above the level of 1.2960 with a growth target of 1.3500 – 1.3740. A buy signal: if the price holds above 1.2960. Stop Loss: below 1.2900, Take Profit: 1.3500 – 1.3740. Alternative scenario: breakout and consolidation below the level of 1.2960 will allow the pair to continue declining to the levels of 1.2648 – 1.2478. A sell signal: once the level of 1.2960 is broken to the downside. Stop Loss: ab