Look for long term buy positions towards 1.41980 | 12 May 2021
12 May 2021, GBP/USD
Wave Analysis
Earlier today, the British attempted to go below 1.41053 but could not breakout any lower. As long as the price remains above 1.41053, we are still in an active up trend. We expect the rebound from 1.41053 to be the end of the corrective wave (D) that the current bullish price rally is the continuation of the impulsive wave (E) to the upperside and should breakout above 1.41620 towards 1.41980 or even higher. As it us now, we are looking for a possible long term buy positions towards 1.42 and may extend much higher.
Trade Recommendations:
Look for long term buy positions towards 1.41980
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