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Watch for a possible buy signal from around 1.31947 towards 1.33667.

Watch for a possible buy signal from around 1.31947 towards 1.33667. | 21 December 2021

21 December 2021, GBP/USD

Watch for a possible buy signal from around 1.31947 towards 1.33667.

Wave Analysis

Yesterday, the British pound rallied to the lowerside but is still above the level 1.31947. This is a significant support level and while the price does not clearly break and close below it, we are on the sidelines, we are basically watching for a break below this line to pick further momentum to the lowerside towards 1.31335 and may extend much lower. On ths flipside, only a clear break above 1.32676 may attract a possible long term buy position towards 1.33538.

Trade Recommendations:

Watch for a possible buy signal from around 1.31947 towards 1.33667.

Bob Stan
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