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Buy a beak above 1.35564 with your take profit at 1.3688.

Buy a beak above 1.35564 with your take profit at 1.3688. | 12 January 2021

12 January 2021, GBP/USD

Buy a beak above 1.35564 with your take profit at 1.3688.

Wave Analysis

After failing to sustain the break below the lower green trendline, the British pound pulled back to the upperside and is snow above the same trendline. As long as the price remains above this trendline, we expect nothing but a possible momentum to the upperside, the idea is to wait for a pullback to the lowerside to pick a low risk buy position expecting price to break beyond 1.35564 towards the upper red trendline, if you are on this chart, keep looking for long term buy positions.

Trade Recommendations:

Buy a beak above 1.35564 with your take profit at 1.3688.

Bob Stan
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