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Waiting for a possible buy opportunity towards 1.33342.

Waiting for a possible buy opportunity towards 1.33342. | 05 March 2020

05 March 2020, GBP/USD

Waiting for a possible buy opportunity towards 1.33342.

Wave Analysis

The cable is currently recovering to the upper side, we expect the bounce from 1.28190 to have marked an end to the corrective wave (4) that the current bullish price rally is the continuation of the impulsive wave (5) to the upper side and should break above 1.33342. If this is the case, then we expect further momentum much higher and should break above 1.40720. This view remains valid as long as the price is held above 1.28190, if the price closes below 1.28190, then this will give us a good sell place.

Trade Recommendations:

Waiting for a possible buy opportunity towards 1.33342.

Bob Stan
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