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Remain short towards 1.36167.

Remain short towards 1.36167. | 03 February 2021

03 February 2021, GBP/USD

Wave Analysis

During the previous trading day, the British pound established a resistance level around 1.37110. As long as the price remains below the previous day's highest high we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the last impulsive wave (v) to the lower side and should breakout below 1.36167 towards 1.35 or even lower. This view can only be invalidated in case the price breaks and close above the upper trend line.

Trade Recommendations:

Remain short towards 1.36167.

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Bob Stan
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