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On the sidelines.

On the sidelines. | 06 March 2020

06 March 2020, GBP/USD

On the sidelines.

Wave Analysis

According to the daily chart attached, we'e expecting a possible sell in case the price bounces off from 1.29721. And according to the Envelopes indicator attached, We're in an active downtrend, expecting the price to continue to the lower side and should break below 1.27800 towards 1.23210. We're expecting the bounce from 1.27950 to have marked an end to the corrective wave (4) that the current bullish price rally is the continuation of the impulsive wave (5) to the upperside and should break beyond 1.33342.

Trade Recommendations:

On the sidelines.

Bob Stan
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