The correction continues.
On the 4-hour chart the third wave 3 of the higher level is developing, within it the wave iii of 3 is developing. Locally the downward correction (ii) of iii is forming. If the assumption is correct, the pair will fall to the levels of 1.3200–1.3100. The level of 1.3426 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1.3426 with the targets at 1.3200–1.3100.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.3426 will let the pair grow within trend to the levels of 1.3800–1.4000.
On the 4-hour chart the third wave 3 of the higher level is developing, within it the wave iii of 3 is developing. Locally the downward correction (ii) of iii is forming. If the assumption is correct, the pair will fall to the levels of 1.3200–1.3100. The level of 1.3426 is critical for this scenario.
Main scenario
Short positions will become relevant during the correction, below the level of 1.3426 with the targets at 1.3200–1.3100.
Alternative scenario
The breakout and the consolidation of the price above the level of 1.3426 will let the pair grow within trend to the levels of 1.3800–1.4000.