07 May 2019, GBP/USD
Wave Analysis
After breaking above the upper trendline, the cable pulled back to the same trendline, but could not break below. As long as the price remains above this trendline, and also above 1.30010-1.29977, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside, and should break above Monday's highest high, towards 1.32990. If you're not any position as at now, you cam place your pending buy limit order at 1.30695, with your stoploss below yesterday's lowest low.
Trade Recommendations:
Place a pending buy limit order around 1.30895.
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