Remain long with your target at 1.24860. | 07 May 2020
07 May 2020, GBP/USD
Wave Analysis
Instead of continuing to the lower side, the cable pulled back to the upper side and is now above the Alligator trend indicator, we're likely to see a possible momentum to the upper side and should break beyond 1.24250 towards 1.24860. And on the flip side, should the price break and close below today's lowest low, then we expect further momentum to the lower side and should break below 1.23030 towards 1.22321. As it is now, only buy positions looks ideal and may be recommended towards 1.24860.
Trade Recommendations:
Remain long with your target at 1.24860.
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.
