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On the sidelines

On the sidelines | 23 December 2019

23 December 2019, GBP/USD

Wave Analysis

The cable is currently rallying around a significant 4 hours support zone 1.3018-1.3072. This is a good zone and as long as the price is not able to clearly break below it, we choose to remain flat, waiting for a possible bounce from it to pick a long term buy order with an ideal take profit at 1.2530. This view can only be invalidated in case of a break below 1.2970, if this is the case, then this will be the unfolding of an impulsive wave count and could see the price break below 1.2810 towards 1.2650.

Trade Recommendations:

On the sidelines

Bob Stan
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