We're buyers | 05 Junio 2019
05 Junio 2019, GBP/USD
Wave Analysis
The cable is currently trading within a rising wedge formation. As long as the price remains within this shape formation, we expect nothing but possible momentum further to the upperside. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upperside and should breakout above 1.27320 towards 1.27460. If this target is broken, then further momentum further towards 1.28 is expected. And on the flip side, only a clear breakout below the supportive trendline will attract a good sell towards 1.25625.
Trade Recommendations:
Look for low risk buy orders towards 1.27460.
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.
