09 Desember 2020, GBP/USD
Wave Analysis
The British pound is currently within an expanding wedge formation. While the price remains within this wedge formation, we're only interested in trading reversals. We'll wait for a buy from the lower trendline and a sell from the upper trendline. As it is now, we are expecting a possible continuation of the impulsive wave (b) to the upperside but should not go beyond the level 1.34479. A breakout above this level will push the price much higher with the next ideal target set at 1.35570.
Trade Recommendations:
Remain long towards 1.34470.