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We're buyers towards 1.42765.

We're buyers towards 1.42765. | 01 June 2021

01 June 2021, GBP/USD

We're buyers towards 1.42765.

Wave Analysis

Earlier today, we saw a sudden surge to the upperside, the British pound rallied much higher and is now above the upper trendline. While the price remains above this trendline, we expect a continuation to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 1.42765 towards 1.43 or even higher. On the flip side, should the price again break below the level 1.41915, then we will be looking for a sell towards 1.40505.

Trade Recommendations:

We're buyers towards 1.42765.

Bob Stan
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