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Buy the cable with your first take profit at 1.3021.

Buy the cable with your first take profit at 1.3021. | 16 October 2019

16 October 2019, GBP/USD

Wave Analysis

During the previous trading day, the impulsive wave (iii) continued to the upperside and is still pretty much bullish both on the daily and on the weekly charts. Following the break above the previous week's highest high,. we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (iii) and should break above 1.28 towards 1.30 or even higher. This view can only be invalidated in case the price break below the end of the corrective wave (ii), if this is true, then a momentum even lower is expected.

Trade Recommendations:

Buy the cable with your first take profit at 1.3021.

Bob Stan
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