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Remain long towards 1.3050.

Remain long towards 1.3050. | 04 Diciembre 2019

04 Diciembre 2019, GBP/USD

Wave Analysis

During the previous trading day, the cable rallied to the upperside and even went above the upper trendline. Now that the price is above the upper trendline, we expect further momentum to the upperside. As long as the price remains above the upper trendline, we expect further momentum to the upperside and should breakout above 1.3050. This view can only be invalidated in case the price breaks again and closes below the supportive trendline, if this is the case, then a momentum towards 1.2210 is expected.

Trade Recommendations:

Remain long towards 1.3050.

Bob Stan
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