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Look for long positions towards 1.40625.

Look for long positions towards 1.40625. | 10 March 2021

10 March 2021, GBP/USD

Wave Analysis

Just as previously forecasted, the British pound bounced off from the 61.8% fib level, headed straight to the upperside and is still pretty much bullish both on the daily and on the weekly charts. If you are looking at this chart now, remain long expecting price to rally towards 23.4% fib level and could breakout much higher. As it is now, we took a long position around 61.8% fib level and is currently holding. We are holding onto this position with our target set at 1.40625. A breakout above this level will push the price much higher towards 1.45.

Trade Recommendations:

Look for long positions towards 1.40625.

Bob Stan
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