26 February 2021, GBP/USD
Wave Analysis
The British pound continues to correct itself to the lowerside and is now below 61.8% fib level. At this rate, we are expecting a possible break and close below the swing low 1.38540 and could breakout much lower/ If the price breaks and closes below 1.36480, then this will be a good place to consider a possible long term sell position towards 1.3560. On the flip side, only a clear breakout above the level 1.42460, will be a good place to consider a possible long term buy position towards 1.42950.
Trade Recommendations:
Expect a rally towards 1.38540.
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