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Buy the cable with your first take profit at 1.22945.

Buy the cable with your first take profit at 1.22945. | 05 September 2019

05 September 2019, GBP/USD

Buy the cable with your first take profit at 1.22945.

Technical Observation

The cable continues to remains within the rising wedge formation. While the price is contained within this shape formation, I expect nothing but a possible momentum to the upperside. We expect the bounce from 1.22190 to have marked and end to the corrective wave (iv), that the current rally to the upper side is the continuation of the impulsive wave (v) and should continue towards 1.22945 or even higher towards 1.250. This view can only be invalidated in case the price breaks below the supportive trendline. If this is true, then a rally to the lowerside is expected.

Trade Recommendations:

Buy the cable with your first take profit at 1.22945.

Bob Stan
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