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Wait | 11 March 2021

11 March 2021, GBP/USD

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Wave Analysis

After a 61.8% pullback, the British pound failed to break any lower. While we're seeing substance above 61.8% fib level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave cycle to the upperside and should break above 1.42530. If the price breaks and closes any higher, then further momentum higher will be expected. On the flipside, should the price break and close below the 61.8% fib level, then this will be an ideal place to consider a possible long term sell towards 100.00% fib level.

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Bob Stan
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