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Look for low risk buy positions towards 1.36490.

Look for low risk buy positions towards 1.36490. | 30 December 2020

30 December 2020, GBP/USD

Look for low risk buy positions towards 1.36490.

Wave Analysis

The British pound is currently within a rising channel formation. As long as the price remains within this channel formation, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout beyond 1.36020 towards 1.36960 or even higher. If you are on this chart now, keep, keep looking for long term buy positions expecting price to break above last week's highest high towards 1.36960.

Trade Recommendations:

Look for low risk buy positions towards 1.36490.

Bob Stan
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