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Look for a long position towards 1.4365

Look for a long position towards 1.4365 | 26 March 2018

26 March 2018, GBP/USD

Look for a long position towards 1.4365

Wave Analysis:

For the past five days, the impulsive wave (5) has continued to extend to the upperside and is still pretty much bullish both on the weekly and the monthly charts. In the next few days, we expect a possible extension of the impulsive wave (5) to the upperside and should break above 1.4365 towards 1.45 or even higher. This view can only be invalidated in case the price breaks below the end of the corrective wave (4). This being the case, we'll expect a possible a bearish momentum to the lowerside but should not go below 1.2990.

Trade Recommendation

Look for a long position towards 1.4365

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Bob Stan
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