Wait and buy the last impulsive wave 5 above 1.40067 towards 1.41780. | 04 May 2021
04 May 2021, GBP/USD
Wave Analysis
During the previous trading day, the British pound rallied massively to the upperside but failed to breakout above the zone 1.40067-1.39820. This is a significant daily resistance zone and while the price is not able to clearly breakout above this zone we are waiting for a clear rebound from it to pick a possible long term sell position towards 1.36722 and may breakout to the lowerside. A clear breakout above the zone 1.40067-1.39820, then this will be a good place to consider a possible long term buy position towards 1.41780.
Trade Recommendations
Wait and buy the last impulsive wave 5 above 1.40067 towards 1.41780.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
