Look for low risk buy positions towards 1.38. | 22 December 2020
22 December 2020, GBP/USD
Wave Analysis
After an impulsive move to the lower side during the previous trading day, the British pound ended up closing as a bullish pin bar candle. This is a possible sign that buyers are somehow till in control. If you are on this chart now, keep looking for more momentum to the upper side expecting a breakout above 1.36160 and could breakout much higher towards 1.38320 towards 1.39. On this chart, sell positions looks a bit risky and may not be recommended unless the price breaks and closes below the blue line.
Trade Recommendations:
Look for low risk buy positions towards 1.38.
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.
