07 June 2021, GBP/USD
Wave Analysis
The british pound continues to consolidate above the alligator indicator. As long as the price remains above this indicator, we are in an upward trend. As it is now, we are waiting for a breakout above above 1.4228 to confirm that the price is in an active uptrend. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should break beyond 1.425. A breakout above this level will push the price much higher with the next ideal target set around 1.43 and may breakout much higher towards 1.45.
Trade Recommendations:
We're bullish upwards 1.45.
Trade Recommendations:
We're buyers with an ideal target set at 1.25 or even higher towards 1.26 or even higher.
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