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Remain short towards 1.39020

Remain short towards 1.39020 | 05 April 2018

05 April 2018, GBP/USD

Remain short towards 1.39020

Wave Analysis:

As previously forecasted, the corrective wave (b) extended slightly to the upper side but could not go beyond the hourly resistance level 1.40890. We expect this level to have marked the end of this correction, that the current bearish price rally is the continuation of the last impulsive wave (c) to the lower side and should break below 1.39785 towards 1.38770. This view can only be invalidated in case the price close above 1.40890, this being the case, we'll expect a possible momentum to the upper side and may break above 1.41310 towards 1.42580.

Trade Recommendations:

Remain short towards 1.39020

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Bob Stan
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