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Look for buy positions now towards 1.31680.

Look for buy positions now towards 1.31680. | 06 November 2020

06 November 2020, GBP/USD

Look for buy positions now towards 1.31680.

Wave Analysis

Yesterday, the British pound surged significantly to the upper side and even went above 1.31210, now that the price has pulled back to the same place, we're considering low risk buy positions with our targets set around 1.31525 and could breakout much higher towards 1.31680. If the price breaks and closes below 1.31210, then we'll need a confirmation, a bearish pin bar, or a bearish engulfing candle to confirm that we are sellers with an ultimate target set around 1.31210 and may extend much lower.

Trade Recommendations:

Look for buy positions now towards 1.31680.

Bob Stan
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