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Waiting for a possible buy from 1.28830 towards 1.33342.

Waiting for a possible buy from 1.28830 towards 1.33342. | 19 February 2020

19 February 2020, GBP/USD

Waiting for a possible buy from 1.28830 towards 1.33342.

Wave Analysis

The Cable continues to correct itself to the lowerside but is still above the level 1.28830. We expect this bearish price rally to be the continuation of a correction to the lowerside but should not go beyond 1.28830 where we will be looking for a possible long term buy order. The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should break beyond 1.33342 towards 1.43320. This view can be invalidated in case the price breaks and closes below 1.28830, if this is the case, then further momentum to the lower side is expected.

Trade Recommendations:

Waiting for a possible buy from 1.28830 towards 1.33342.

Bob Stan
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