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Look for low risk buy positions towards 1.32920.

Look for low risk buy positions towards 1.32920. | 30 March 2020

30 March 2020, GBP/USD

Look for low risk buy positions towards 1.32920.

Wave Analysis

Last week, the cable bounced off from the supportive trendline, headed straight to the upperside and is still pretty much bullish both on the daily and on the weekly charts. We expect this upward rally to be the continuation of a corrective three wave cycle and could see the price break above 1.32920 towards 1.42720. At this point, buy positions looks ideal and can safely be recommended with an ultimate target around 1.32920. On this chart, only buy positions looks ideal and can be recommended.

Trade Recommendations:

Look for low risk buy positions towards 1.32920.

Bob Stan
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