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Wait | 04 September 2019

04 September 2019, GBP/USD

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Wave Analysis

Yesterday, the cable opened at 1.20607, went as low as 1.19580 and high as 1.21052 but ended up closing at 1.20781, just a few pips above its opening price. The previous day's candle is a perfect bullish pin bar candle closing above a good daily support level 1.20045. As long as the price remains above this level, 1.20045, we expect nothing but a possible momentum to the upperside. And should price break below 1.20045, then we're expecting the impulsive wave (v) to push the price even lower.

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Bob Stan
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