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Wait for a clear buy signal

Wait for a clear buy signal | 01 May 2018

01 May 2018, GBP/USD

Wait for a clear buy signal

Wave analysis

During the previous trading day, the cable opened at 1.37689 went as high as 1.3791 and as low as 1.3711 but ended up closing at 1.3754 , just a few pips below it's opening price. The previous days candle is a perfect bullish pin bar closing around a daily key level 1.37545. As long as this level is not violated to the lower side with a big red candle, this level should act as a buy place for long term buyers. We're waiting for further corrections to the lower side, to pick low risk buy positions with our target being 1.38618 and the next target at 1.49103.

Trade Recommendations

Wait for a clear buy signal to buy the cable towards 1.49103

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Bob Stan
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