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Remain long

Remain long | 27 March 2020

27 March 2020, GBP/USD

Remain long

Wave Analysis

The British pound is currently in an active up trend. Following the break above 1.19797, I expect further rally to the upper side and should break beyond 1.12615. The anticipated bullish price rally is the continuation of the impulsive waves (E) and (5) and should break above 1.23290. A sustained move above 1.23290 could push the price much higher towards 1.25 or even 1.25. On this chart, only a clear break below the previous day's lowest low will attract a possible sell towards 1.14.

Trade Recommendations:

Remain long

Bob Stan
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