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Wait for a possible buy from the zone 1.31186-1.31134

Wait for a possible buy from the zone 1.31186-1.31134 | 09 November 2020

09 November 2020, GBP/USD

Wave Analysis

Last week, we took a buy position when the price went above 1.31186-1.31134. As long as the price remains above this zone, we are looking for more long positions expecting price to surge towards 1.3241 and could move up much higher towards 1.35. And on the flipside, should the price breakout below 1.31186-1.31134, then this will be a good place to consider a possible long term sell position with an ultimate target set around 1.30737, and the next target set around 1.30222.

Trade Recommendations:

Wait for a possible buy from the zone 1.31186-1.31134 with an ultimate target set around 1.31970.

Bob Stan
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