26 January 2021, GBP/USD
Wave Analysis
After bouncing off from the upper trendline, the British pound continued to the lowerside is now below the lower trendline. If the current 4 hours candle can close below the lower trendline, then this will be a good place to consider a possible long term sell position towards 1.35400. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside with an ultimate target at 1.35270. On the flip side, should the price break and close above the upper trendline, then a move much higher is expected.
Trade Recommendations:
As long as the price remains below 1.36476, we're looking for long term sell positions.
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