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Buy the cable towards 1.2765.

Buy the cable towards 1.2765. | 17 June 2019

17 June 2019, GBP/USD

Wave Analysis

Currently, the cable is bouncing off of a supportive trendline. While the price is contained above this trendline, I expect nothing but a possible momentum to the upperside. We're waiting for a clear bounce from the immediate support trendlne to pick a buy order. And in case the price breaks below this support, I expect nothing but a possible momentum to the lowerside towards 1.2492. A breakout below this support will push price downwards towards 1.24 or even lower. A buy from this trendline will push price towards 1.2765.

Trade Recommendations:

Buy the cable towards 1.2765.

Bob Stan
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