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Wait for a pullback to pick a low risk sell position.

Wait for a pullback to pick a low risk sell position. | 25 March 2021

25 March 2021, GBP/USD

Look for long term sell positions towards 1.35.

Wave Analysis

Just as previously anticipated the British pound continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. While the price remains below the Alligator indicator lines, we are looking for nothing but long term sell positions. Our expectations is that the price should continue to the lowerside and should breakout below 1.35 towards 1.32 and could breakout much lower. And in case the price break above the upper blue line, then further momentum much higher is excepted

Trade Recommendations:

Wait for a pullback towards 1.3750 to pick a low risk sell position.

Bob Stan
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