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Expect a possible momentum towards 1.21650.

Expect a possible momentum towards 1.21650. | 27 April 2020

27 April 2020, GBP/USD

Expect a possible momentum towards 1.21650.

Wave Analysis
After a steep decline seen last week, the cable is currently pulling back to the upper side, we are expect the current bullish price rally to be the continuation of a corrective wave count and should not go beyond the opening price of the previous week’s candle. If you are on this chart now, wait for a sell from the previous week’s opening price. Your stop loss should be above the previous week’s highest high and take profit at 1.21665. Alternatively, you could wait and pick a buy from around 1.21660 with your take profit at 1.3386.
Trade Recommendations:
Expect a possible momentum towards 1.21650.

Bob Stan
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