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Look for long term buy positions.

Look for long term buy positions. | 23 November 2020

23 November 2020, GBP/USD

Look for long term buy positions.

Wave Analysis

During the previous trading day, the British pound continued to the upperside and is still pretty much bullish. While the price remains below the upper trendline, we re expecting a rise towards this trendline. The anticipated bullish price rally is the continuation of the impulsive wave (E) to the upperside and should breakout above the upperside. In case the price bounces off from this trendline, then we will be looking for a possible sell position expecting price to continue to the lowerside towards the lower trendline.

Trade Recommendations:

Look for long term buy positions.

Bob Stan
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