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Wait for a buy from within the zone 1.29869-1.30168 with your take profit at 1.32794.

Wait for a buy from within the zone 1.29869-1.30168 with your take profit at 1.32794. | 30 January 2020

30 January 2020, GBP/USD

Wait for a buy from within the zone 1.29869-1.30168 with your take profit at 1.32794.

Wave Analysis

During the previous trading day, the corrective wave (b) continued to the lower side but could not go below the zone 1.29869-1.30168. As long as the price remains above this zone, this remains a good place to pick a buy from this zone to pick a long term buy order. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upper side and should break above 1.32794. If the price breaks and closes above this level, then a momentum to the upper side is expected towards 1.34840.

Trade Recommendations:

Wait for a buy from within the zone 1.29869-1.30168 with your take profit at 1.32794.

Bob Stan
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