Buy the cable from 1.30924. | 06 May 2019
06 May 2019, GBP/USD
Wave Analysis
After an unprecedented rise towards 1.31855, the cable is currently correcting itself to the lowerside. We're waiting for price to bounce from 1.30924 to pick a low risk buy order. The anticipated bullish price rally is the continuation of the last impulsive wave (c) to the upperside and should breakout above Friday's highest high, towards 1.321. Conservative traders should wait for price around 1.30924, they should have their stop loss below Friday's lowest low, and take profit should be fixed above 1.32.
Trade Recommendations:
Buy the cable from 1.30924.
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.
