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Long term buyers should wait

Long term buyers should wait | 07 March 2018

07 March 2018, GBP/USD

Long term buyers should wait

Wave Analysis:

Despite earlier forecasts that this pair could decline towards 1.3662. The cable continues to correct itself to the upper side and may break above 1.3980 but should not go beyond 1.4190. We're still waiting for a long term buy upon a rebound from 1.3662. However, as an intraday trader, you could still be looking for short term long positions towards 1.4400, or you could wait for pullbacks then pick long positions. A good place to sell this pair is upon a break below 1.3662, with your target at 1.3125.

Trade Recommendations:

Long term buyers should wait for a rebound from 1.3662 to buy this pair towards 1.4618

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Bob Stan
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