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Expect further bullish price correction towards 61.8% fib level;

Expect further bullish price correction towards 61.8% fib level; | 03 Marzo 2021

03 Marzo 2021, GBP/USD

Expect further bullish price correction towards 61.8% fib level;

Wave Analysis

After establishing a swing low around 1.38585, the British pound rallied to the upper side and is still pretty much bullish on lesser time frames. If you are looking at this chart right now, keep looking for a possible long-term buy position expecting the price to rally upwards but should not go beyond 61.8% fib level. A break and close above this level will push the price much higher with the next ideal target at 1.42480. On the flip side, should the price break and close below the recent swing low, then this will be a good place to consider a possible long-term sell position

Trade Recommendations:

Expect further bullish price correction towards 61.8% fib level;

Bob Stan
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