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Wait for a possible buy from 1.2997.

Wait for a possible buy from 1.2997. | 06 January 2020

06 January 2020, GBP/USD

Wave Analysis

After the first correction towards 1.2497 failed to break below, we are now seeing another correction to the same level is being seen, if you took a buy on the first reaction, you can remain long with this position, if not, you should wait for a second pullback to the same level to pick a second long term buy position. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side and should break beyond the thirst impulsive wave (iii) towards 1.39 or even higher. A break and a close below 1.2997 will push the price even lower.
Trade Recommendations:
Wait for a possible buy from 1.2997.
Bob Stan
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