GBPUSD. We're in a corrective mode towards 1.22555 | 05 أغسطس 2019
05 أغسطس 2019, GBP/USD
Wave Analysis
After a drastic decline in July this year, the cable is current correction itself to the upperside. We expect the bounce from 1.20930 seen last week to be the end of the impulsive five wave cycle, that the current bullish price rally is the unfolding of a corrective three wave cycle and should not go beyond 1.22555. If this target is broken, then further momentum even higher is expected. And on the flip side, should price break below 1.20930, then we'll expect further momentum to the lowerside.
Trade Recommendations:
We're in a corrective mode towards 1.22555
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
