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Wait | 26 March 2020

26 March 2020, GBP/USD

Wave Analysis

Yesterday, the British Pound dropped as low as 1.16367 but ended up closing around 1.18800. We expected a possible break above 1.19770 but as it looks now, this pair may not break beyond 1.19770, instead we are waiting for a clear break below the supportive trendline to confirm that we are continuing to the lowerside with an ultimate target around 1.14823-1.14344. If you are on this chart, we recommend waiting for either a break above 1.19770 to pick a buy or a break below 1.14344 to pick a confirmed sell position.

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Bob Stan
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