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Look for long term buy positions towards 1.36490.

Look for long term buy positions towards 1.36490. | 31 December 2020

31 December 2020, GBP/USD

Look for low risk buy positions towards 1.36490.

Wave Analysis

The British pound is currently in an active up trendline. We're expecting a possible continuation to the upper side and should breakout above 1.36490 towards 1.378 or even higher. A rebound from the upper trend line will attract a possible sell position towards the lower trendline. If the price pulls back to the lower then the best place to consider a possible buy position is from the lower trendline. A breakout below this trend line will mean we are continuing to the lower side with our target at 1.32250.

Trade Recommendations:

Look for long term buy positions towards 1.36490.

Bob Stan
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