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Buy the cable now with your take profit at 1.33342.

Buy the cable now with your take profit at 1.33342. | 06 February 2020

06 February 2020, GBP/USD

Remain long with an ultimate target around 1.33342.

Wave Analysis

Nothing much happened on this pair during the previous trading. The cable is still rallying around 1.30223. This is a very good place to pick a buy from. As long as the price does not successfully go below 1.30223, we are waiting for a clear bounce from it to pick a long term buy position towards 1.33342. The anticipated bullish price rally is the continuation of the impulsive wave (5) and should break above 1.33342 towards 1.41700. This view can only be invalidated in case the price breaks below 1.29900.

Trade Recommendations:

Buy the cable now with your take profit at 1.33342.

Bob Stan
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