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Wait and buy the cable from 1.27190.

Wait and buy the cable from 1.27190. | 17 October 2019

17 October 2019, GBP/USD

Wait and buy the cable from 1.27190.

Wave Analysis

Perfectly as per the previous day's forecast, we expected a possible rally to the upperside which happened just like indicated in the forecast. We expect the rebound from 1.28820 to have marked an end to the impulsive wave (iii) that the current bearish price rally is the continuation of the corrective wave (iii) to the lowerside but should not go beyond the end of the first impulsive wave (i). Conservative traders should wait for a clear rebound from 1.27190 to pick a low risk buy order with an ultimate target at 1.29220.

Trade Recommendations:

Wait and buy the cable from 1.27190.

Bob Stan
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