09 Marzo 2018, GBP/USD
Wave Analysis:
Just as in euro, the cable dropped massively but still several pips above our buyers territory 1.3662-1.3812. Today and may be earlier next week, we expect further developments to the lower side where we'll be looking for low risk buy positions. If you're not in short already, you could still look for short positions but have your target at 1.3662. Alternatively, you could wait for a rebound from 1.3662 to buy the cable with your first target at 1.4618 and the next at 1.50. This view can only be invalidated in case the price breaks below 1.3662, if this is the case, then we expect a possible momentum towards 1.3135.
Trade Recommendations:
Buy the cable upon a rebound from 1.3662 towards 1.4618
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