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Wait | 14 January 2021

14 January 2021, GBP/USD

Wave Analysis

Few days ago, the British pound established a swing low around 1.31185 and just recently a swing high around 1.36690. On this chart, if the price bounces off from the resistance level 1.36690, then this will be a good place to consider a possible long term sell position. If you are on this chart, look for low risk sell positions expecting further pullbacks to the lowerside towards 23.6% fib level, a break below 38.2% fib level will push the price further to the lowerside with the next ideal target set at 50.0% fib level.

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Bob Stan
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