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Remain long.

Remain long. | 04 August 2020

04 August 2020, GBP/USD

Remain long.

Wave Analysis

The British pound continues to sustain the break above the upper trend line. While we continue to see a persistent move above this trend line, we expect nothing but a possible momentum to the upper side. The anticipated bullish rally is the continuation of the impulsive wave (E) to the upper side and should break above 1.32540 towards 1.33 or even higher. As it is now, we are waiting for a correction towards the same level to pick a low risk buy position or hold onto the previous buy.

Trade Recommendations:

Remain long.

Bob Stan
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