Wait for a bounce from 1.29869 to pick a possible buy position. | 20 Januari 2020
20 Januari 2020, GBP/USD
Wave Analysis
The cable continues to consolidate above 1.30168-1.29869. As long as the price remains above this zone, we are waiting for a bounce from within this zone to pick a possible low risk buy position. And on the flip side, should the price break and close below 1.29869. A break below this level will mean we are continuing to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and could break below 1.27860 towards 1.24860 or even lower.
Trade Recommendations:
Wait for a bounce from 1.29869 to pick a possible buy position.
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.
