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Remain long towards the upper trendline.

Remain long towards the upper trendline. | 27 January 2021

27 January 2021, GBP/USD

Remain long towards the upper trendline.

Wave Analysis

Yesterday, the British pound continued to the upperside and is still pretty much bullish both on the daily and on the 4 hours time frames. As long as the price remains above the lower trendline, we are looking for long term buy positions expecting a breakout above the upper trendline towards 1.38020. If the price rebounds from the upper trendline, then this will be a good place to consider a possible long term sell position expecting a breakout below 1.36245 towards 1.34470 and may extend much lower.

Trade Recommendations:

Remain long towards the upper trendline.

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Bob Stan
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