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Look for long term buy positions towards 1.33885.

Look for long term buy positions towards 1.33885. | 25 August 2020

25 August 2020, GBP/USD

Look for long term buy positions towards 1.33885.

Wave Analysis

Earlier today, the British pound failed to sustain the break below the supportive trend line, instead, the price pulled back to the upper side and is now above the same trend line./ While the price is held above this trendline, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (iii) to the upper side and should breakout above the upper trend line toward 1.33165 or even higher. And on the flip side, should the price break and close below the supportive trend line, then this will be a good place to look for sell positions.

Trade Recommendations:

Look for long term buy positions towards 1.33885.

Bob Stan
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