24 February 2021, GBP/USD
Wave Analysis
Yesterday, the British pound created a fresh high by reaching the high of 1.42375. As long as the price does not clearly break and close above this zone, we are looking for a sell position from this point. This is a weekly resistance level and while we are not able to see any clear break above it, it remains to be a good place to sell from. A sell from this level will push the price to the lower side with an ideal target set at 23.6% fib level and break below this level may push the price much lower towards 61.8% fib level.
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