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Remain long

Remain long | 07 August 2020

07 August 2020, GBP/USD

Remain long towards 1.32.

Wave Analysis

The British pound continues to rally above the Alligator indicator attached, while the price is held above the three lines, we expect nothing but a possible momentum to the upper side towards 1.354 and could breakout much higher. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side and should breakout above 1.31500 towards 1.32. If the price breaks below the Blue line then this will be an onset to a correction to the lower side towards 1.30100.

Trade Recommendations:

Remain long

Bob Stan
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