Expect a possible momentum towards 1.21650. | 27 April 2020
27 April 2020, GBP/USD
Wave Analysis
After a steep decline seen last week, the cable is currently pulling back to the upper side, we are expect the current bullish price rally to be the continuation of a corrective wave count and should not go beyond the opening price of the previous week’s candle. If you are on this chart now, wait for a sell from the previous week’s opening price. Your stop loss should be above the previous week’s highest high and take profit at 1.21665. Alternatively, you could wait and pick a buy from around 1.21660 with your take profit at 1.3386.
Trade Recommendations:
Expect a possible momentum towards 1.21650.
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.
