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Remain long

Remain long | 28 March 2018

28 March 2018, GBP/USD

Remain long

Wave Analysis:

After the Monday's exhaustion candles seen around 1.42325, the cable crashed significantly and even went below 1.41310, but could not remain below it. As long as the price remains above the 4 hour support zone 1.41310-1.41210, we expect a possible bullish price rally and should break above 1.42325 towards 1.45. If the price should go below 1.41210, then this will push the price to the lower side towards 1.40040. This pair should be traded alongside GBPHKD, GBPSGD and AUDUSD. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendation:

Remain long with an ideal target at 1.4258

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Bob Stan
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