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Wait | 08 March 2019

08 March 2019, GBP/USD

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Wave Analysis

The cable continues to rally to the lowerside and is showing signs of closing below 1.31820. According to the monthly chart, we still expect a possible rally further to the upperside with the next ideal target at 1.45206. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should first break above 1.38335 before a move even higher is seen. And on the lowerside, should price successfully close below 1.31820, then we'll expect a possible decline towards 1.26781.

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