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Wait for a buy from 1.3660.

Wait for a buy from 1.3660. | 08 January 2020

08 January 2020, GBP/USD

Sell a break below 1.2997.

Wave Analysis

The cable continues to the lower side but is still above the level 1.2997. As long as the price is not able to clear break and close below this level we remain jittery to pick sell positions, rather, we are waiting for a clear bounce from it to pick a long term buy order. The anticipated bullish price rally is the continuation of the impulsive wave (v) to to the upper side and should break above 1.3490 towards 1.3830 towards 1.41025 or even higher. On this chart, we may only look for a sell in case the price goes below 1.2997.

Trade Recommendations:

Wait for a buy from 1.3660.

Bob Stan
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