GBPUSD – March 18th, 2020

GBP/USD, 12H chart. The bullish outlook remains on the table because the price hasn’t broken the low of wave 1 yet. So, it’s still possible to have the beginning of wave 3 in the coming hours. However, if the price goes below 1.1957, there’ll be a moment for larger wave (B).

GBP/USD, 45Min chart. It seems like a downward impulse in wave ((c)) of 2 is almost over. Nevertheless, we should wave for a local five-wave price movement as confirmation for the main wave count. If the market fixates above 1.2273 there’ll be more evidence that wave 2 finished.

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