Look for long term buy positions towards 1.34395. | 21 October 2020
21 October 2020, GBP/USD
Wave Analysis
Currently the British pound is within a rising wedge formation. While we continue to see sustenance above the lower trend line, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above towards 1.34395. If the price breaks beyond this level, then further momentum much higher is expected. On the flip side, a breakout below this level will push the price to the lowerside.
Trade Recommendations:
Look for long term buy positions towards 1.34395.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
