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As long as the price remains above 1.36887, look for long term buy positions.

As long as the price remains above 1.36887, look for long term buy positions. | 21 January 2021

21 January 2021, GBP/USD

As long as the price remains above 1.36887, look for long term buy positions.

Wave Analysis

The British pound continues to rally to the upperside and is still pretty much bullish both on the daily and on the weekly charts, if the price can break and close above 1.36887, then this will be a good place to consider a possible long term buy position. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should break above 1.37385 towards 1.40 or even higher. This view will only be invalidated in case the price breaks below 1.35756, if this is the case, then we expect a possible correction much lower towards 1.3220.

Trade Recommendations:

As long as the price remains above 1.36887, look for long term buy positions.

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