GBP/USD Forecast: British pound is currently in an active up trend

com-l4Wave Analysis

The British pound is currently in an active up trend. As long as the price remains above the Alligator indicator attached, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should breakout above 1.345654 and may extend much higher with an ultimate target set at 1.3678. As it is now, only buy positions looks ideal. But should the price break below the blue line, then further momentum to the lower side is expected.

Trade Recommendations:

Remain long towards 1.3454.

Remain long towards 1.3454.

Origin: FreshForex

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