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Wait | 02 November 2020

02 November 2020, GBP/USD

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Wave Analysis

Earlier this week, the British pound rallied to the lowerside but is yet to hit our target set at 1.28897. On this chart, we are expecting further momentum to the lowerside especially after breaking below 1.28897. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should first break and close below 1.28897. Failure to break below this level will mean we are looking for long term buy positions expecting price to rally much higher with an ultimate target at 1.29710.

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Bob Stan
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