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Wait for a sell signal

Wait for a sell signal | 19 March 2018

19 March 2018, GBP/USD

Wait for a sell signal

Wave Analysis

During the previous week, the corrective wave (b) continued upwards but still within our sellers zone 1.4165-1.4400. We're waiting for this correction to short this pair. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side but should not go beyond the weekly support 1.3617. Should this support be broken, we'll be expecting further bearish momentum. According to the current chart set up and structure, only short positions looks more ideal and can be recommended. This pair should be traded alongside GBPHKD, GBPSGD and EURHKD. These pairs will have a similar price action today.

Trade Recommendation:

Wait for a sell signal with your target at 1.3617

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Bob Stan
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