20 January 2021, GBP/USD
Wave Analysis
Just as in Euro, the British pound continues to rally to the upperside but is still a few points below 1.36826. At this point in time, we are eyeing a possible rally towards 1.36826 and could breakout much higher. If you are looking at this chart now, we recommend looking for more momentum to the upperside expecting the impulsive wave (v) to stretch much higher with the next ideal target set at 1.37810. This view will only be invalidated in case the price breaks and closes below the lower trendline, if this is the case, then a momentum towards 1.34120 is expected.
Trade Recommendations:
Remain long with your first target set at 1.36826.
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