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As long as the price remains below the zone 1.34148-1.33386 we recommend looking for long term sell positions.

As long as the price remains below the zone 1.34148-1.33386 we recommend looking for long term sell positions. | 01 December 2020

01 December 2020, GBP/USD

As long as the price remains below the zone 1.34148-1.33386 we recommend looking for long term sell positions.

Wave Analysis

During the previous trading month, the British pound rallied to the upperside but is currently around a significant weekly resistance zone 1.34148-1.33386. On this chart, as long as the price remains below this zone, we are looking for long term sell positions. However, in case the price breaks and closes above 1.34148, then we want to see sustenance above this zone, the idea is to keep looking for long term sell positions as long as the price is held below this zone, a break and close above it will push the price much higher.

Trade Recommendations:

As long as the price remains below the zone 1.34148-1.33386 we recommend looking for long term sell positions.

Bob Stan
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