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Wait for a buy from 1.25013 with your target at 1.26625.

Wait for a buy from 1.25013 with your target at 1.26625. | 17 June 2020

17 June 2020, GBP/USD

Wait for a buy from 1.25013 with your target at 1.26625.

Wave Analysis

Last week, the British pound reached a recent all time high 1.28290 but has now pulled back to the lower side. As long as the price is held above 1.25013, we're waiting for a buy from it to pick a long position. Basically we are waiting for a sign that the impulsive wave (c) is ended so that we buy the this pair from 1.25012 with the first target at 1.26625 and the next ideal target around 1.27870. A breakout above the last target will push the price much higher with an ultimate target around 1.314 or even higher.

Trade Recommendations:

Wait for a buy from 1.25013 with your target at 1.26625.

Bob Stan
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