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Wait for a buy from 1.29869-1.30168.

Wait for a buy from 1.29869-1.30168. | 28 January 2020

28 January 2020, GBP/USD

Wave Analysis

Just as previously expected, the corrective wave (b) continued to the lower side but is still above the zone 1.30168-1.29869. As long as the price remains above this zone, we are waiting for a clear bounce from this zone to pick a long term buy order towards 1.32794. The anticipated bullish price rally is the continuation of the impulsive wave (c) and should break above 1.32794 towards 1.34950. This view can only be invalidated in case the price breaks and closes below 1.29869, if this is the case, then a momentum towards 1.27670 is expected.

Trade Recommendations:

Wait for a buy from 1.29869-1.30168.

Bob Stan
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