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We're long towards 1.32794.

We're long towards 1.32794. | 04 February 2020

04 February 2020, GBP/USD

We're long towards 1.32794.

Wave Analysis

During the previous trading day, the cable pulled back to the lower side and but could not go below 1.31170. As long as the price remains above 1.30168-1.29869, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (c) to the upper side and should break above 1.32794 towards 1.34680. This view can only be invalidated in case the price breaks and closes below 1.29869, then a momentum to the lower side is expected.

Trade Recommendations:

We're long towards 1.32794.

Bob Stan
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