Remain long towards 1.29869. | 02 اكتوبر 2020
02 اكتوبر 2020, GBP/USD
Wave Analysis
Yesterday, the British pound rallied massively to the upperside after testing the lower trendline. We expect the rebound from around 50.0% fib level to have marked an end to the corrective wave (D) that the current move to the upperside is the continuation of the impulsive wave (E) to the upperside and should breakout beyond 1.29869 towards 1.30685 or even higher. And on the flip side, should the price breakout below the level 50.0% fib level, then this may be a good place to consider a low risk sell position towards 1.27005.
Trade Recommendations:
Remain long towards 1.29869.
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.
