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Watch for a potential sell around 1.41310

Watch for a potential sell around 1.41310 | 04 April 2018

04 April 2018, GBP/USD

Watch for a potential sell around 1.41310

Wave Analysis:

Perfectly as previously forecasted, the corrective wave (b) continues to rally to the upper side but is still below the hourly resistance zone 1.41320-1.41210. As long as this zone protects the upper side, we expect a possible end of this correction to sell the impulsive wave (c) to the lower side but should first break below 1.39785 to confirm a possible rally towards 1.38770. On the weekly chart, we expect a rally to the lower side but only after a strong rise towards 1.41310 which is also a sell place on the lesser time frames.

Trade Recommendations:

Sell the impulsive wave (c) upon a rebound from 1.41310 towards 1.39020

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Bob Stan
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