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Sell the British pound at 1.36210 towards 1.34375.

Sell the British pound at 1.36210 towards 1.34375. | 18 January 2021

18 January 2021, GBP/USD

Sell the British pound at 1.36210 towards 1.34375.

Wave Analysis

Last week, the British pound broke out of the ascending wedge formation and is still pretty much below. While we continue to see sustenance below this trendline, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of a corrective wave count and could see price break and close below 1.34375. If the price descends and closes below this level, then further momentum much lower is expected withe next ideal target set at 1.31.

Trade Recommendations:

Sell the British pound at 1.36210 towards 1.34375.

Bob Stan
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