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

gbp3Wave Analysis

The British pound is currently in an active uptrend. As long as the price remains above the Alligator indicator, expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsivewave (5) to the upperside and should breakout above1.40750 towards 1.41 and could breakout much higher. As it is now, if you are not already in a long position, wait for a pullback towards the Alligator indicator to pick a low risk buy position. This view can only be invalidated in case the price breaks below the blue Aliigator indicator if this is the case, then a momentum much lower is expected.

Trade Recommendations:

Wait for a pullback to pick a possible low risk buy position.

Wait for a pullback to pick a possible low risk buy position.

Origin: FreshForex

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