Wait for a correction to pick a buy. | 06 Desember 2019
06 Desember 2019, GBP/USD
Wave Analysis
Since the beginning of this week, the impulsive wave (1) has continues to the upper side and is still pretty much bullish both on the daily and the weekly charts. We're waiting for a clear sign that the impulsive wave has ended so that we pick a correction. We expect the corrective wave (2) to unfold to the lower side and could see the price rally lower but should not go beyond 1.3010. As it is, buying this pair as it is now could be a bit risky, the best is to wait for a retracement to pick a low risk buy order.
Trade Recommendations:
Wait for a correction to pick a buy.
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.
