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Look for low risk buy positions.

Look for low risk buy positions. | 09 October 2020

09 October 2020, GBP/USD

Look for low risk buy positions.

Wave Analysis

Currently, GBPUSD is above the lower trendline, we we continue to see sustenance above the lower trendline, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 1.30145 towards 1.356 and could breakout much higher. If you are on this chart now, keep looking for long term buy positions with an ultimate target set around 1.30390. Only a break below 1.28925 will call for a low risk sell position.

Trade Recommendations:

Look for low risk buy positions.

Bob Stan
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