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Wait for a sell from around 1.26366.

Wait for a sell from around 1.26366. | 13 Marzo 2020

13 Marzo 2020, GBP/USD

Wave Analysis

During the previous trading day, the cable bounced off from the support level 1.25236 and is currently heading to the upper side, we expect this bounce to be an end to the impulsive wave (iii) that the current bullish price rally is the continuation of the corrective wave (iv) to the upper side but should not go beyond 1.26336. If the cable can successfully bounce from 1.26366, then this will give us a good place to sell the last impulsive wave (v) to the lower side and should break below 1.25236 towards 1.24605.

Trade Recommendations:

Wait for a sell from around 1.26366.

Bob Stan
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