Wait for a bounce from 1.3012 to pick a buy. | 19 ديسمبر 2019
19 ديسمبر 2019, GBP/USD
Wave Analysis
During the previous trading day, the cable bounced off from the supportive zone 1.3012-1.3086. The previous bearish rally which saw price retrace back towards the supportive zone is 100% correction of the recent impulsive wave (3), we expect the correction to end upon a bounce from 1.3012 to pick a long term buy. But in case the price breaks and closes below 1.3012, then this will invalidate the anticipated bullish price rally and could push the price even lower towards 1.2810.
Trade Recommendations:
Wait for a bounce from 1.3012 to pick a 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.
