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wait | 22 March 2021

22 March 2021, GBP/USD

Wave Analysis

The British pound continues to rally within a range 61.8% fib level and 38.2% fib level. While the price remains within this range, we are waiting for a rebound from 38,2% fib level to pick a sell or a rebound from the 61.8% fib level to pick a low risk buy position. A breakout below t61.8% fib level will be a good place to consider a possible long term sell position with an ideal target at 1.35500. A break below this level will mean we are continuing to the lowerside with the next ideal target set at 1.32260 and could breakout much lower towards 1.298.

Trade Recommendations:

Wait.

Bob Stan
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