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Wait for a buy from within 1.20231-1.21352 towards 1.32981.

Wait for a buy from within 1.20231-1.21352 towards 1.32981. | 06 Abril 2020

06 Abril 2020, GBP/USD

Wait for a buy from within 1.20231-1.21352 towards 1.32981.

Wave Analysis

After failing to sustain the break below the zone 1.20231-1.21352, the British pound pulled back to the upperside and is now above the same zone, while the price is held above this zone, we are expecting a possible momentum to the upper side and should break above the previous week's highest high towards 1.32981, this view can only be invalidated in case the price breaks again below 1.20231, this being the case, I expect a possible momentum much lower towards 1.15250 or even lower.

Trade Recommendations:

Wait for a buy from within 1.20231-1.21352 towards 1.32981.

Bob Stan
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