28 August 2020, GBP/USD
Wave Analysis
Despite the previous week's pin bar, the Britsih pound surged massively to the upperside and is currently approaching a major weekly resistance 1.33281, we don't expect the impulsive wave (c) to break beyond this resistance, however, if it does successfully close below 1.33281, then this will be a good place to consider a possible long term buy position with an ultimate target around 1.41840, as it is now, we are looking for long term sell position towards the lowerside trendline, around 1.15385.
Trade Recommendations:
Sell a rebound from 1.33281.
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