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Wait for a rebuy from within 1.34470-1.34110 towards 1.36812.

Wait for a rebuy from within 1.34470-1.34110 towards 1.36812. | 07 January 2021

07 January 2021, GBP/USD

Wait for a rebuy from within 1.34470-1.34110 towards 1.36812.

Wave Analysis

The British pound is currently in an active up trend. While the price remains above the zone 1.34470-1.34110, we expect nothing but a possible momentum to the upperside . Currently we expect a possible continuation of the corrective wave (4) to the lowerside but should not go beyond 1.34470-1.34110 where we'll be looking for a low risk buy position. A rebound from the zone 1.34470-1.34110 will be a good place to consider a possible long term buy positions with an ultimate target set at 1.37800 or even higher.

Trade Recommendations:

Wait for a rebuy from within 1.34470-1.34110 towards 1.36812.

Bob Stan
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