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Expect further correction towards 50.0% fib level.

Expect further correction towards 50.0% fib level. | 19 April 2021

19 April 2021, GBP/USD

Expect further correction towards 50.0% fib level.
Wave Analysis
Few days ago, the British pound established a swing low around 1.36970 and a swing high around 1.41550. As it is now, the British pound has pulled back almost 23.6% fib level. If the price breaks above this fib, then we will be expecting further correction to the upper side towards 38.2% fib level and may extend much higher towards 38.2% fib level. A rebound from any of these fib levels will provide us with a good sell position expecting price to rally to the lower side towards 1.34680.
Trade Recommendations:
Expect further correction towards 50.0% fib level.

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