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Hopes for buyers are slowly declining.

Hopes for buyers are slowly declining. | 04 March 2020

04 March 2020, GBP/USD

Hopes for buyers are slowly declining.

Wave Analysis

Sellers are slowly taken control of this market. Following the break below 1.27884, the corrective wave (4) may extend to the lowerside but should not go beyond the end of the first impulsive wave (1). This view can only be rendered futile in case the price again breaks above 1.27884, if this is the case, then further momentum to the upperside is expected with an ideal take profit at 1.33342. The anticipated bullish price rally is the continuation of the impulsive wave (5) and could break above 1.33342 towards 1.44300.

Trade Recommendations:

Hopes for buyers are slowly declining.

Bob Stan
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