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Look for long term buy positions towards 1.41980

Look for long term buy positions towards 1.41980 | 12 May 2021

12 May 2021, GBP/USD

Look for long term buy positions towards 1.41980

Wave Analysis

Earlier today, the British attempted to go below 1.41053 but could not breakout any lower. As long as the price remains above 1.41053, we are still in an active up trend. We expect the rebound from 1.41053 to be the end of the corrective wave (D) that the current bullish price rally is the continuation of the impulsive wave (E) to the upperside and should breakout above 1.41620 towards 1.41980 or even higher. As it us now, we are looking for a possible long term buy positions towards 1.42 and may extend much higher.
Trade Recommendations:
Look for long term buy positions towards 1.41980

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