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Wait and buy a break above 1.40067 towards 1.41840.

Wait and buy a break above 1.40067 towards 1.41840. | 07 May 2021

07 May 2021, GBP/USD

Wait and buy a break above 1.40067 towards 1.41840.

Wave Analysis

Earlier today, the British pound rallied to the upperside and is still pretty much bullish both on the daily and on the weekly charts. As it is now, we are waiting for a clear breakout above 1.40067 will move the price to the upperside. The anticipated bullish price rally is the continuation of the last impulsive wave (5 to the upperside and should break above 1.41310 towards 1.42 and may breakout even higher. On the flipside, a break below 1.36900 will push the price much lower towards 1.34950.

Trade Recommendations:

Wait and buy a break above 1.40067 towards 1.41840.

Bob Stan
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