16 Februari 2021, GBP/USD
Wave Analysis
The British pound is still very much bullish. While we see sustenance above the three lines of the Alligator indicator we expect nothing but a surge to the upperside. This upward move is the continuation of the last impulsive wave (5) to the upperside and should break above 1.39110 towards 1.40 or even higher. Conservative traders may wait for a pullback towards 1.38000 or 1.37445 to pick a possible long term buy position expecting price to rebound and to give us a good buy place towards 1.40.
Trade Recommendations:
Remain long.
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