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Remain short towads 1.31775.

Remain short towads 1.31775. | 11 January 2021

11 January 2021, GBP/USD

Wave Analysis

Earlier today, the British pound rallied to the lower side and even went below the zone 1.35248-1.35430. While the price continues to remain below this zone, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of a corrective wave count and could see price break and close below 1.31775. If you are looking at this chart right now, expect a close below 1.35248 to pick a possible long term sell position with an ultimate target set at 1.31775.

Trade Recommendations:

If the price closes below 1.35248, remain short towards 1.31775.

Bob Stan
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