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GBPUSD. Look for low risk buy positions towards the upper trendline.

GBPUSD. Look for low risk buy positions towards the upper trendline. | 07 Agosto 2019

07 Agosto 2019, GBP/USD

GBPUSD. Look for low risk buy positions towards the upper trendline.

Wave Analysis

Nothing much happening on this pair, the cable is still rallying within the rising channel formation. As long as the price remains within this shape formation, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should break above the previous day's highest high towards 1.22435. And on the flip side, should price break below the supportive trendline, the further momentum to the lowerside is expected.

Trade Recommendations:

Look for low risk buy positions towards the upper trendline.

Bob Stan
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