GBPUSD - Bull Run Over?

British Pound/U.S. DollarFXCM

Description

⋅ Mar 16, 2021 10:53 AM

2day Chart.

GBP has been showing some weakness recently but is this simply a correction or could this be the start of a reversal?

As always, we wait for confirmation. If price breaks down, we will be looking for a retest to take this pair lower.

See links below to see how we can trade this.

Goodluck and trade safe!

Comments

loudon3

⋅ Mar 16, 2021 1:31 PM

Playing around with the wave count on the way up, it shows the 5 waves ending around the 127.2% FIbo extension level, otherwise basically the same picture as above. Waiting to see how price reacts to the 1.3800 level.