Major situation: take into account quick positions from corrections beneath the extent of 1.1461 with a goal of 1.0300 – 1.0000.
Different situation: breakout and consolidation above the extent of 1.1461 will enable the pair to proceed rising to the degrees of 1.2280 – 1.2665.
Evaluation: the fifth wave of bigger diploma V is presumably growing on the each day chart, with wave (3) of V forming as its half. The fifth wave of smaller diploma 5 of (3) is growing on the H4 chart, with wave iii of 5 fashioned and a correction accomplished because the fourth wave iv of 5 inside. Apparently, the fifth wave v of 5 is growing on the H1 chart, with wave (ii) of v presumably accomplished as its half. Wave (iii) of v began unfolding. If the presumption is right, the pair will proceed to drop to the degrees of 1.0300 – 1.0000. The extent of 1.1461 is important on this situation as a breakout will allow the pair to proceed rising to the degrees of 1.2280 – 1.2665.
Value chart of GBPUSD in actual time mode
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