Expect a possible momentum towards the supportive trendline. | 28 أغسطس 2019
28 أغسطس 2019, GBP/USD
Wave Analysis
After breaking above the level 1.2220, the cable moved massively to the upperside and is still pretty much bullish both on the hourly and the 4 hours charts. As long as the price is contained within the rising channel formation, we expect nothing but a possible momentum to the upperside. As it is, we expect a possible correction towards the lower trendline before we pick a long term buy towards 1.23120 or even higher. This view can only be invalidated in case the price breaks below the supportive trendline.
Trade Recommendations:
Expect a possible momentum towards the supportive trendline.
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.
