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Look for a long position towards 1.18643.

Look for a long position towards 1.18643. | 24 March 2020

24 March 2020, GBP/USD

Wave Analysis

The cable is currently in a corrective mode, following the bounce from 1.14770, we expect the bounce from this level to have marked an end to the corrective wave (b) that the current bullish price rally is the continuation of the impulsive wave (c) to the upper side but should not go beyond 1.18643, a break and a close above the latter means we are continuing to the upper side with an ultimate target around 1.31045. If you are looking at this chart, expect a possible correction towards 1.18643.

Trade Recommendations:

Look for a long position towards 1.18643.

Bob Stan
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