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Place a pending buy limit at 1.24965.

Place a pending buy limit at 1.24965. | 01 May 2020

01 May 2020, GBP/USD

Place a pending buy limit at 1.24965.

Wave Analysis

The Corrective wave (4) continues to move to the lower side despite the previous forecast that this pair could rally towards 1.26405. On this chart, we are waiting for a clear breakout above the previous day's high to confirm that we are upwards, or a correction towards 1.24965 to pick a low risk buy positions. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should break above 1.26405 towards 1.275 or even higher. Conservative traders should have their pending buy limits at 1.25170.

Trade Recommendations:

Place a pending buy limit at 1.24965.

Bob Stan
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