Buy a breakout above 1.31612. | 17 Agustus 2020

17 Agustus 2020, GBP/USD

Buy a breakout above 1.31612.

Wave Analysis

The British pound is currently consolidating with a range not going above the upper trendline or below the lower trendline, we are waiting for a clear breakout above the upper trendline to confirm that we are upwards towards 1.31612. And should the price breakout above 1.31612, then this will be a good place to consider long term buy position towards 1.325 or even higher. And on the flipside, in case the price breaks below the lower trendline, then further momentum to the lowerside is expected.

Trade Recommendations:

Buy a breakout above 1.31612.

Bob Stan
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