Remain long towards 1.42170. | 21 May 2021

Weekly Analysis

During the previous trading day, the British pound rallied to the upperside and is still pretty much bullish both on the daily and on the weekly charts. While the price remains above the Alligator indicator, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (E) to the upperside and should breakout above 1.421701 towards 1.42585 and could breakout above 1.42585 towards 1.43 and may breakout much higher.

Trade Recommendations:

Remain long towards 1.42170.

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