10 February 2021, GBP/USD
Wave Analysis
The British pound continues to rally to the upperside in a consolidating manner. Just as previously expected, we are holding onto a long term buy position expecting price to continue to the upperside and should breakout above 1.38980 towards 1.402. On the flipside, should the price break below the lower blue line, then we will be looking for long term sell positions. As it is now, sell positions looks a bit risky and may not be recommended unless the price breaks below the blue line.
Trade Recommendations:
Remain long towards 1.3890.
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