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Wait and buy a break above 1.33957.

Wait and buy a break above 1.33957. | 27 November 2020

27 November 2020, GBP/USD

Wait and buy a break above 1.33957.

Wave analysis

The British pound continues to rally above the blue line of the alligator indicator. As long as the price remains above this blue line, we expect a possible continuation of the impulsive wave (5) to the upperside and should breakout above 1.34085 towards 1.35 or even higher. On the flipside, should the price bounce off from the level 1.33957, then we will be expecting a break below the lower trendline to pick a possible long term sell position with an ideal target set around 1.32730.

Trade Recommendations:

Wait and buy a break above 1.33957.

Bob Stan
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