06 July 2020, GBP/USD
Wave Analysis
Last week, the British pound headed to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As long as the price is held above the upper trendline, 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 break above the upper trend line towards 1.3021 or even higher. But should the price break below the lower trend line, then a momentum to the lower side is expected.
Trade Recommendations:
Remain long towards the upper trendline.
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