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Wait for a sell from around 38.2% fib level.

Wait for a sell from around 38.2% fib level. | 04 Marzo 2021

04 Marzo 2021, GBP/USD

Expect further bullish price correction towards 61.8% fib level;

Wave Analysis

Since the previous trading day, nothing much has happened on this pair. We're still seeing a range between the swing low 1.38589 and 38.2% fib level. These are key levels and as long as the price does not clearly breakout above or below this range, we are on the sidelines or we are trading reversals. A rebound from 38.2% fib level will provide us with an ideal provide us with an ideal place consider a possible long term sell position with an ideal target set around 1.38350 and the next target at 1.37478.

Trade Recommendations:

Wait for a sell from around 38.2% fib level.

Bob Stan
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