Buy a bounce from the lower trendline. | 16 سبتمبر 2020
16 سبتمبر 2020, GBP/USD
Wave Analysis
Currently within a larger contracting wedge formation. On this chart, should the price bounce off from the lower trendline, then this will be a good place to consider a possible long term buy position towards the upper trendline. A break and close below the lower trendline will push the price much lower towards 1.27910. A breakout above the upper trendline may push the price much higher with an ultimate target set around 1.30320. On its way upwards, the key levels to look for include 1.29715.
Trade Recommendations:
Buy a bounce from the lower 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.
