Look for low risk buy positions towards 1.38. | 22 Diciembre 2020

22 Diciembre 2020, GBP/USD

Wave Analysis

After an impulsive move to the lower side during the previous trading day, the British pound ended up closing as a bullish pin bar candle. This is a possible sign that buyers are somehow till in control. If you are on this chart now, keep looking for more momentum to the upper side expecting a breakout above 1.36160 and could breakout much higher towards 1.38320 towards 1.39. On this chart, sell positions looks a bit risky and may not be recommended unless the price breaks and closes below the blue line.

Trade Recommendations:

Look for low risk buy positions towards 1.38.

Bob Stan
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