01 February 2021, GBP/USD
Wave Analysis
After bouncing off from the lower trendline, the British pound continued to the upperside and is still pretty much bullish both on the daily and on the weekly charts, while we continue to see sustenance above the lower trendline,we recommend looking for long term buy positions. The anticipated bullish price rally is the continuation of the last impulsive wave (E) to the upperside and should breakout above the upper trendline towards 1.40 or even higher.
Trade Recommendations:
Remain long towards the upper trendline.
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