We're looking for a low risk buy order towards 1.27350. | 14 June 2019
14 June 2019, GBP/USD
Wave Analysis
The cable is currently trading within a contracting wedge formation. As long as the price is contained between the two lines forming this wedge, we're only interested in trading reversals, basically, we're waiting for a bounce from the supportive trendline to buy the last impulsive wave (5) to the upperside, or a bounce from the upper trendline to pick a sell order. As it on the hourly chart, we recommend looking for a low risk buy order upon a bounce from the supportive trendline towards 1.27350.
Trade Recommendations:
We're looking for a low risk buy order towards 1.27350.
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.
