Look for a potential buy order towards the upper trendline. | 08 April 2019
08 April 2019, GBP/USD
Wave Analysis;
The cable is currently trading within a possible triangle formation. Currently the price is around the zone 1.30327-1.30095 which also the base of this triangular formation. This base, 1.30327-1.30095, is a potential buy place and as long as the price is contained above this zone, we’re looking for a low risk buy order with an ideal target along the resistive trendline. This view can only be invalidated in case the price breaks below 1.30327-1.30095, is this is the case, then a steep decline towards 1.27170 is expected.
Trade Recommendations;
Look for a potential buy order towards the upper trendline.
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.
