Sterling Wave Analysis 9 February, 2021
February 09, 2021 @ 18:53 +03:00
• Sterling broke resistance level 1.3750
• Likely to reach resistance level 1.3900
Sterling today broke sharply above the pivotal resistance level 1.3750 (which stopped the three pervious waves (iii), (v) and (b) – as can be seen below).
The breakout of the resistance level 1.3750 accelerated the active short-term impulse wave 5 from the start of February.
Given the prevailing uptrend and strongly bearish USD sentiment seen today – the pair is likely to extend the gains toward the next resistance level 1.3900.