GBPUSD. As long as the price remains above the upper trendline, look for buy orders. | 31 Juli 2019
31 Juli 2019, GBP/USD
Wave Analysis
Earlier today, the cable brokeout above the converging wedge formation and is still pretty much above the upper trendline. As long as the price remains above this trendline, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the corrective three wave cycle and should breakout above the end of the first impulsive wave (a) and may head straight towards 1.22300, this view can only be invalidated in case the price breaks below the supportive trendline.
Trade Recommendations:
As long as the price remains above the upper trendline, look for buy orders.
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.
