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Expect further correction towards 1.34940.

Expect further correction towards 1.34940. | 22 January 2021

22 January 2021, GBP/USD

Expect further correction towards 1.34940.

Wave Analysis

The British pound continues to rally to the upperside perfectly as previously forecasted. As long as the price remains above the end of the previous impulsive wave (iii), we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should break above 1.37700 towards 1.389 or even higher. As it is now, expect further momentum to the lowerside, is expected with an ultimate target at 1.34940.

Trade Recommendations:

Expect further correction towards 1.34940.

Bob Stan
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