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Look for low risk buy orders towards 1.33342.

Look for low risk buy orders towards 1.33342. | 12 February 2020

12 February 2020, GBP/USD

Wave Analysis

Just as previously forecasted, the cable bounced off from the level 1.28830 and is currently heading to the upper side, we expect the bounce from this level to have marked an end to the corrective wave (4), that the current bullish price rally is the continuation of the impulsive wave (5) to the upper side and should break above 1.3342 towards 1.43320. This view can only be invalidated in case the price breaks and closes below 1.28830 towards 1.24690. A break below this level will push the price to the lower side.

Trade Recommendations:

Look for low risk buy orders towards 1.33342.

Bob Stan
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