Wait for a possible long term buy order with an ultimate target around 1.33342. | 24 February 2020
24 February 2020, GBP/USD
Wave Analysis
The cable continues to the move to the lower side but is still above the level 1.28450. As long as the price remains above the level 1.28450, we are waiting for a possible bounce to pick a possible long term buy order towards 1.33342. The anticipated bullish price rally is the continuation of the impulsive wave (5) and should break above 1.33342 towards 1.42450. This view can only be invalidated in case the price breaks below 1.28450, if this is the case, then a momentum to the lowerside is expected.
Trade Recommendations:
Wait for a possible long term buy order with an ultimate target around 1.33342.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
