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Buy the cable with your first take profit at 1.3020.

Buy the cable with your first take profit at 1.3020. | 18 November 2019

18 November 2019, GBP/USD

Buy the cable with your first take profit at 1.3020.

Wave Analysis

During the previous week, the cable bounced off from the supportive trendline and is currently heading to the upperside. As long as the price is contained above the lower trendline, we expect the current move to the upperside to be the continuation of the impulsive five wave cycle and could see the impulsive wave (3) continue even higher towards 1.3020 or even higher. And on the other side, should the price rally to the lowerside, then only a clear break and a close below 1.2780 will call for a short order/

Trade Recommendations:

Buy the cable with your first take profit at 1.3020.

Bob Stan
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