We're approaching a weekly support 1.20928 | 30 أغسطس 2019
30 أغسطس 2019, GBP/USD
Wave Analysis
The cable continues to correct itself to the lowerside but is still above 1.20928. This is a key weekly support and while the price is contained above it, we're patiently waiting for a bounce from it to pick a low risk buy order. And on the flipside, should the price breakout below 1.20928, then this will be an ideal place to look for long term sell order towards 1.16525. While on its way towards the target above, the key possible rebound areas include 1.18450, and 1.16525. A bounce from these levels may course a reversal.
Trade Recommendations:
Wait for abounce from 1.20928 to pick a low risk buy.
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.
