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We're buyers towards 1.39.

We're buyers towards 1.39. | 20 October 2021

20 October 2021, GBP/USD

We're buyers towards 1.39.

Wave Analysis:

During the previous trading day, we saw a surge to the upperside. The British pound continues to rally much higher and is still pretty much bullish both on the daily and on the weekly charts. As it is right now, are looking for a possible rally much higher and should see the price break and close above 1.3825 and should extend much higher towards 1.39. On the flip side, should the price rebound from 1.3825, then this will be a good place to pick a low risk sell position towards 1.37. The anticipated bullish price rally is the continuation of the last impulsive wave (v) and may extend much higher towards 1.40.
Trade Recommendations:
We're buyers towards 1.39.
Bob Stan
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