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Expect a possible bearish

Expect a possible bearish | 27 Marzo 2018

27 Marzo 2018, GBP/USD

Expect a possible bearish

Wave Analysis:

After a strong rally to the upper side, the cable is currently showing signs of exhaustion. The previous four, four hour candles are pretty much exhaustion candles and as long as the price does not break above the previous day's highest high, 1.4243, we expect a correction to the lower side. The anticipated bearish price rally will be in form of a corrective three wave cycle and should nit go beyond 1.41395 which is a key 4 hour support level. This pair should be traded alongside EURUSD, GBPHKD and GBPSGD. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendation:

Expect a possible bearish correction towards 1.41395

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Bob Stan
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