21 August 2020, GBP/USD
Wave Analysis
After an attempt to breakout above the upper trend line, the British pound pulled back to the lower side but again ended up below it but failed to touch the lower supportive trend line. We expect the current bullish price rally to be the continuation of the impulsive wave (iii) to the upper side and should breakout above 1.32800 towards 1.3564 or even higher. And in case the price pulls back to the lower side and ends up below the upper trend line, then we are likely to see a surge to the lower side.
Trade Recommendations:
Expect a possible momentum to the upper side towards 1.3564 or even higher.
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