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Buy a break above the previous week's highest high towards 1.4485.

Buy a break above the previous week's highest high towards 1.4485. | 31 Diciembre 2019

31 Diciembre 2019, GBP/USD

Buy a break above the previous week's highest high towards 1.4485.

Wave Analysis

Just as in Euro, nothing much appears to be happening on the cable, on this chart, we are yet to see any clear extension of the corrective wave (iv) to the lowerside neither have we seen the continuation of the impulsive wave (v) to the upper side. As it is now, remaining flat looks ideal, but should the price break and close above the previous day;s highest high, then this will give us an ideal place to consider a long term buy order towards 1.4253 and could breakout even higher. If the price breaks and closes below the previous day's lowest low, then this will give us a good place to start thinking about a long term sell towards 1.2155.

Trade Recommendations:

Buy a break above the previous week's highest high towards 1.4485.

Bob Stan
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