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Buy a bounce from 1.23020 with your take profit at 1.25180.

Buy a bounce from 1.23020 with your take profit at 1.25180. | 31 March 2020

31 March 2020, GBP/USD

Wave Analysis

Yesterday, the cable pulled back to the lower side in a consolidating manner, we expect the downward rally which began yesterday to be the continuation of the corrective wave (iv) but should not go beyond 1.23020. We expect the bounce from 1.23020 to have marked an end to the corrective wave (iv), that any clear moves to the upper side will be the continuation of the impulsive wave (v) and should break above 1.25180 towards 1.2645 or even higher, if you are looking at this chart now, wait for a possible low risk buy.

Trade Recommendations:

Buy a bounce from 1.23020 with your take profit at 1.25180.

Bob Stan
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