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Remain long towards 1.32.

Remain long towards 1.32. | 06 August 2020

06 August 2020, GBP/USD

Remain long towards 1.32.

Wave Analysis

During the previous trading day, the British pound continued to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the Alligator indicator attached, we are in an active up trend, the idea is to look for low risk buy positions expecting price to continue to the upper side towards 1.324 and could breakout even higher. On the flip side, should the price break below the Alligator indicator attached, then we will be looking for long term sell positions.

Trade Recommendations:

Remain long towards 1.32.

Bob Stan
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