GBP/USD Forecast: nothing much happened on the British pound

com-l4Wave Analysis

Earlier this week, nothing much happened on the British pound. We expected a possible bullish correction towards 50.0% fib level, however, nothing much happened on this pair. As it is now, we are on the sidelines, we are waiting for a breakout below the 1.38775 to consider a possible long-term sell position expecting the price to rally much lower with our next target set at 1.37478. On the other hand, if the price pulls back to the upper side, then we’ll be watching for 50.0% fib level to consider a possible long-term sell position.

Trade Recommendations:

Wait

Wait

Origin: FreshForex

Leave a Reply