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Buy a sustained break above 1.24730.

Buy a sustained break above 1.24730. | 09 April 2020

09 April 2020, GBP/USD

Buy a sustained break above 1.24730.

Wave Analysis

Yesterday, the cable continued to move to the upper side and is still very mush bullish both on the daily and on the weekly charts. While the price is contained above the zone 1.21352-1.20231, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of an impulsive wave count and could see price break above 1.24730 towards 1.33994. At this point, only buy positions looks ideal, but should the price break below 1.20231, then we may expect a possible sell.

Trade Recommendations:

Buy a sustained break above 1.24730.

Bob Stan
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