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Wait for a correction towards 1.3025 to buy the cable.

Wait for a correction towards 1.3025 to buy the cable. | 09 December 2019

09 December 2019, GBP/USD

Wave Analysis

During the previous week, the impulsive wave (1) continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As it is on the 4 hours chart attached, we're waiting for a sign that the impulsive wave (1) is ended so that we sell a possible correction towards 1.2960. And in case the price bounces from 1.2960, then this will give us the correct place to pick a long term buy order, the anticipated bullish price rally is the continuation of the impulsive wave (3) towards 1.3260.

Trade Recommendations:

Wait for a correction towards 1.3025 to buy the cable.

Bob Stan
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