26 August 2020, GBP/USD
Wave Analysis
After bouncing off of the supportive trendline, the impulsive wave (iii) continued to the upperside and is still pretty much bullish both on the daily and on the weekly charts. On this chart, we are expecting further surge to the upper side with ultimate target around 1.32605. If you are looking at this chart now, wait for a breakout above 1.32605 to pick a low risk buy position towards 1.33165. And should the price pullback to the lowerside, then a break below the supportive trendline, then this will be a good place to consider a possible sell position.
Trade Recommendations:
Remain long towards 1.32605.
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