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Wait for a rebound from 1.3012 to pick a buy.

Wait for a rebound from 1.3012 to pick a buy. | 10 December 2019

10 December 2019, GBP/USD

Wave Analysis

After a tremendous momentum to the upper side, the cable could barely reach the level 1.32. We expect the current bearish price rally to be a corrective wave count and could see the price continue even lower towards 1.3012. If you're not already in a buy position as at now, you can wait for the corrective wave (2) to rebound from 1.3012 so that we buy the second impulsive wave (3) towards 1.321 and could breakout even higher. This view can only be invalidated in case the price goes below 1.3012.

Trade Recommendations:

Wait for a rebound from 1.3012 to pick a buy.

Bob Stan
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