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Long towards 1.3100

Long towards 1.3100 | 27 August 2018

27 August 2018, GBP/USD

Long towards 1.3100

Wave Analysis

For a fortnight now, the cable bounced off from a weekly support level 1.2697 and is still pretty much above this level, as long as the price remains above the level 1.2697, we expect a possible momentum to the upper side. The anticipated bullish price rally is a correction of the impulsive wave (c) and should not go above 1.3100. If you're not long already, you could wait for a break below 1.2697, or a bounce from 1.3352. This view can only be invalidated in case the pair breaks above 1.3352.

Trade Recommendations:

Long towards 1.3100

101% Double the volume

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