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Watching for a possible buy position towards 1.44913.

Watching for a possible buy position towards 1.44913. | 17 August 2021

17 August 2021, GBP/USD

We're buyers towards 1.44913

Wave Analysis

Despite the fact that the previous month's candle was a bullish pin bar candle, we are yet to see any clear moves to the upperside. As it on the monthly chart attached, we recommend looking for a possible long term buy position and should push the price above 1.44913 towards 1.77360. If the price breaks above this level, then further momentum to the upperside is expected. In case the price breaks below the previous month's lowest low, then we will be looking for a possible long term sell position towards 1.23389.

Trade Recommendations

Watching for a possible buy position towards 1.44913.

Bob Stan
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