Buy the cable with an ultimate target at 1.45. | 30 December 2019

30 December 2019, GBP/USD

Wave Analysis

Other than Friday last week, the cable declined significantly and only recovered on Friday, we expect the bounce from 1.2840 to have marked an end to the corrective wave (iv) that the current bullish price rally is the continuation of an impulsive wave count and could see the price continue massively to the upper side towards 1.4250. The anticipated bullish price rally is the continuation of the impulsive wave (v) and could see the price break above 1.3545 towards 1.4570 or even higher. This view can only be invalidated in case the price breaks below Friday’s lowest low.
Trade Recommendations:
Buy the cable with an ultimate target at 1.45.
Bob Stan
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