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Look for buy orders with an ultimate target around 1.23981.

Look for buy orders with an ultimate target around 1.23981. | 10 April 2020

10 April 2020, GBP/USD

Look for buy orders with an ultimate target around 1.23981.

Wave Analysis

Few weeks ago, the British pound failed to sustain the break below 1.20231-1.21352. As long as we're seeing price above 1.21352, we expect nothing but a possible momentum to the upper side, this upward momentum is the continuation of a corrective wave count and could see price break beyond 1.26760 towards 1.32981. At this point in time, only buy positions looks ideal and can be advised, sell positions on the other hand looks risky and cannot be recommended unless the price again close below 1.20231.

Trade Recommendations:

Look for buy orders with an ultimate target around 1.23981.

Bob Stan
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