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On the sidelines.

On the sidelines. | 13 November 2019

13 November 2019, GBP/USD

Wave Analysis

Few days ago, we saw a correction of the previous impulsive five wave cycle but could not break below the supportive trendline. We expect this bounce to have marked an end to the corrective three wave cycle that the current bullish price rally is the continuation of an impulsive wave count to the upperside and should break above the upper trendline towards 1.3010. This view can only be invalidated in case the price rallies to the lowerside and even breaks below the supportive trendline.

Trade Recommendations:

Wait for a break above the upper trendline to pick a buy towards 1.3010.

TRADE FUEL WITHOUT SWAPS!

Bob Stan
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