Look for long term sell positions towards 1.38471. | 01 March 2021
01 March 2021, GBP/USD
Wave Analysis
Last week, the British pound established a swing high around 1.42409,before crashing back to the lower side. On this chart, we are looking for a possible long term sell position. The anticipated sell position is the continuation of a corrective wave count and could see price break below 61.8% fib level towards 1.38471 and could breakout much lower. The idea is to keep looking for sell positions on this chart unless a clear buy position is seen. Conservative traders should wait for price around 1.37350.
Trade Recommendations:
Look for long term sell positions towards 1.38471.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
