Expect further correction towards 1.32981. | 17 April 2020

17 April 2020, GBP/USD

Expect further correction towards 1.32981.

Wave Analysis

The British is showing signs of failing to sustain the break above the previous week's highest high. We are expect this downward rally which started few day's ago to be the continuation of a corrective rally and could see price reach 1.21352-1.20231 but should not break any lower. A bounce from this level will give us the best place to consider a possible long term buy order. A break and close below this zone will mean we are continuing to the lower side with an ultimate target at 1.12850.

Trade Recommendations:

Expect further correction towards 1.32981.

Bob Stan
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