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Wait for a possible long term sell position towards 1.31720.

Wait for a possible long term sell position towards 1.31720. | 14 April 2021

14 April 2021, GBP/USD

Wait for a possible long term sell position towards 1.31720.

Wave Analysis
The British pound continues to remain below the upper blue line forming the moving average for the Alligator indicator. As it is now, we are looking for long-term sell position expecting the price to breakout below 1.35895 towards 1.31720. On the flip side, should the price break above the blue line, then we will be looking for a rally towards the upper trendline and could breakout above the upper trendline towards 1.39235 and may extend much higher towards 1.41740 or even higher if you are looking at this chart now, keep looking for long term sell positions towards 1.31720.
Trade Recommendations:
Wait for a possible long term sell position towards 1.31720.

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Bob Stan
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