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Remain long towards 1.41900.

Remain long towards 1.41900. | 12 March 2021

12 March 2021, GBP/USD

Remain long towards 1.41900.

Wave Analysis

After a rebound from around 61.8% fib level. The British pound continues to the upperside and is still pretty much bullish both on the daily and on the weekly charts. While we continue to see sustenance above 61.8% fib level we expect nothing but a possible momentum to the upperside and should breakout above 1.41900 towards 1.4200 or even higher. At this point, only buy positions looks ideal and can safely be recommended but with an ultimate target set at 1.43 and may extend much higher.

Trade Recommendations:

Remain long towards 1.41900.

Bob Stan
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