GBP/USD Forecast: looking for long term buy positions towards 1.45 or even higher

gbp-l2Wave Analysis

Despite the previous week’s bullish forecast, we are yet to see any significant moves to the upperside. If the price can successfully close above the 50.0% fib level, then this will be a good sign that we are continuing long with the last impulsive wave (5) and should break beyond 1.4265. As it now, we are looking for long term buy positions towards 1.45 or even higher. A it is now, we need to remain on the sidelines. And in case the price breaks below 1.36925, then this will be a good place to consider a possible long term sell position.

Trade Recommendations:

Buy a break above 50.0% fib level

We're looking for a buy above 1.40200 towards 1.42165.

Origin: FreshForex

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