Expect further momentum to the lower side towards 1.29610. | 05 Marzo 2021

Wave Analysis

The British pound continues to the rally to the lower side after reestablishing a resistance level at 1.41472. As it is now, we are seeing a continuation of a corrective wave count and could see the price reach the level 1.34375. If the price breaks and closes below this level, then this will mean we are continuing to the lower side with the next ideal target set at 1.29610. On the other hand, should the price rebound from 1.34375, then this will be a good place o consider a possible long term buy position towards 1.41472. A break above it will mean we are continuing much higher.

Trade Recommendations:

Expect further momentum to the lower side towards 1.29610.