On the sidelines. | 13 November 2019
13 November 2019, GBP/USD
Wave Analysis
Few days ago, we saw a correction of the previous impulsive five wave cycle but could not break below the supportive trendline. We expect this bounce to have marked an end to the corrective three wave cycle that the current bullish price rally is the continuation of an impulsive wave count to the upperside and should break above the upper trendline towards 1.3010. This view can only be invalidated in case the price rallies to the lowerside and even breaks below the supportive trendline.
Trade Recommendations:
Wait for a break above the upper trendline to pick a buy towards 1.3010.
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.
