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Wait and buy a rebound from 1.35349-1.34764 with your target at 1.37599.

Wait and buy a rebound from 1.35349-1.34764 with your target at 1.37599. | 02 February 2021

02 February 2021, GBP/USD

Wave Analysis

Few days ago, the British pound established a swing high around 1.37599, following the rebound from this level, the British pound continued to the lowerside and is still pretty much bearish both on the daily on the 4 hours charts. On this chart, we expect to continue to short with the corrective wave (iv) to the lowerside but should not go beyond 1.35349-1.34764. If you are looking at this chart now, we are sellers. Keep looking for possible long term sell positions expecting a break below 1.34764.

Trade Recommendations:

Wait and buy a rebound from 1.35349-1.34764 with your target at 1.37599.

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Bob Stan
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