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GBPUSD. Expect a possible rally towards 1.27607.

GBPUSD. Expect a possible rally towards 1.27607. | 01 July 2019

01 July 2019, GBP/USD

Wave Analysis:

On the 4 hour chart attached, we’re seeing a potential resistance around 1.27607. this is a key level and as long as the price remains above it, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (C) and should breakout above 1.27607 towards 1.2907. A breakout above this level will push the price further to the upperside and should breakout above this level further to the upperside. This view can only be invalidated in case the price bounces off from 1.27607, if this is true then further move to the lowerside is expected. This view will push price steeply towards 1.25050.
Trade Recommendations:
Expect a possible rally towards 1.27607.
Bob Stan
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