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Wait and buy a rebound from the blue line towards 1.37240.

Wait and buy a rebound from the blue line towards 1.37240. | 21 December 2020

21 December 2020, GBP/USD

Wave Analysis

Earlier today, the British pound gaped massively to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. But while the price remains above the Alligator indicator, we expect nothing but a possible rebound from it to pick a possible low risk buy position towards 1.38320. And on the flip side, should the price break below the Blue line of the Alligator indicator, then we will be looking for a possible momentum to the lowerside with the next ideal target at 1.29650.

Trade Recommendations:

Wait and buy a rebound from the blue line towards 1.37240.

Bob Stan
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