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Wait | 10 April 2018

10 April 2018, GBP/USD

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Wave Analysis:

During the previous trading day, the corrective wave (b) extended slightly to the upper side but is still below the daily resistance level 1.4276. As long as this level is not violated to the upper side with a big candle, we expect a possible rebound from it to pick a short position with a target at 1.3617. The anticipated bearish price rally will the the continuation of the impulsive wave (c) to the lower side but should not go beyond the just mentioned target 1.3617, if this target is broken, then we expect further bearish momentum towards 1.2171.

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Bob Stan
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