Buy GBPUSD towards the upper trendline. | 12 November 2019
12 November 2019, GBP/USD
Wave Analysis
During the previous trading day, the cable could not sustain the break below the supportive trendline. Instead, the pair pulled back to the upperside and is now within the contracting wedge formation. As long as the price remains within this shape formation, I expect a possible momentum to the upperside and should not break above the upper trendline. This view can only be invalidated in case the price rallies higher and goes above 1.3020. If this is the case, then a possible momentum towards 1.41 or even higher is expected.
Trade Recommendations:
Buy GBPUSD towards the upper trendline.
TRADE FUEL WITHOUT SWAPS!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.
