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We're buyers | 08 July 2020

08 July 2020, GBP/USD

Remain short towards 38.2% fib level.

Wave Analysis

Yesterday, our stops were taken out when the price successful closed above the swing high, we anticipated a possible surge towards 50.0 percent fib level but instead the British Pound surged upwards, as it is now, we're in an upward rally, our expectations is that the price needs to break beyond 1.255 to confirm that we are continuing upwards, if you are looking forward to trading this pair, my recommendations is that you should look for low risk buy positions. But in case the price closes below the 50.0 percent fib level, then we may consider a sell position.

Trade Recommendations:

Remain long on this pair

Bob Stan
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