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Wait for a buy from around 1.3012.

Wait for a buy from around 1.3012. | 17 December 2019

17 December 2019, GBP/USD

Wait for a buy from around 1.3012.

Wave Analysis

Yesterday, we saw a continuation of the correction of impulsive wave (3) and is still pretty much bearish both on the 4 hours and on the daily chart. Today, and possibly for the better parts of this week, we're expecting further bearish correction and could see price rally towards 1.3012 or even lower. If you are on this chart now, wait for a possible correction towards the daily support 1.3012 to pick a low risk buy order. This view will only be invalidated in case the price closes below the same level.

Trade Recommendations:

Wait for a buy from around 1.3012.

Bob Stan
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