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Buy a break above the blue alligator line towards 1.28220.

Buy a break above the blue alligator line towards 1.28220. | 16 June 2020

16 June 2020, GBP/USD

Remain short towads 1.23340.

Wave Analysis

After the pullback which began last week, the British pound is currently gaining. We expect the current move to the upper side to be the continuation of the continuation of the previous impulsive five wave cycle and could see price break beyond the upper blue line towards 1.28220 towards 1.30 or even higher. As it is now, we choose to remain on the sidelines but in case this breakout happens, then we will expect nothing but a possible surge much higher towards the level 1.28220.

Trade Recommendations:

Buy a break above the blue alligator line towards 1.28220.

Bob Stan
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