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Expect a possible momentum to the upperside towards 1.3564 or even higher.

Expect a possible momentum to the upperside towards 1.3564 or even higher. | 21 Agustus 2020

21 Agustus 2020, GBP/USD

Expect a possible momentum to the upperside towards 1.3564 or even higher.

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.

Bob Stan
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