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On the sidelines.

On the sidelines. | 22 October 2019

22 October 2019, GBP/USD

Buy the cable with your first target at 1.30221.

Wave Analysis

Just as we mentioned in the previous day;s analysis, the cable has not been able to move to our anticipated direction. We still expect further momentum to the upperside. The anticipated bullish price rally is the continuation of both the impulsive waves (c) and (5) and should breakout above 1.3025 towards 1.3210 or even higher. This view can only be invalidated in case the price breaks below 1.2875, if this is the case, then we'll expect a correction of the current impulsive wave count but should not go beyond 1.2556.

Trade Recommendations:

On the sidelines.

Bob Stan
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