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Remain long with an ultimate target around 1.32798.

Remain long with an ultimate target around 1.32798. | 03 February 2020

03 February 2020, GBP/USD

Wave Analysis

Just as previous expected, the cable continued to the upper side and even went above 1.31560. As long as the price remains above this level, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (c) and could see the price break above 1.32794 towards 1.35070. This view can only be invalidated in case the price bounces off from 1.32794 or in case the price breaks and closes below 1.31580, if this is the case, then a momentum towards 1.30168.

Trade Recommendations:

Remain long with an ultimate target around 1.32798.

Bob Stan
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