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Look for long term sell position towards 1.16320.

Look for long term sell position towards 1.16320. | 14 December 2020

14 December 2020, GBP/USD

Look for long term sell position towards 1.16320.

Wave Analysis

The British pound bounced off from the upper trendline and is still below the upper trendline. As long as the price remains below the upper trendline, we are looking for long term sell positions. Following the bounce from the upper trendline, we are looking for long term sell positions. On this chart, we are looking for long term sell positions. The anticipated bearish price rally is the continuation of an impulsive wave count and could see price break below 1.28045 towards 1.16320.
Trade Recommendations:
Look for long term sell position towards 1.16320.
Bob Stan
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