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Remain long towards 1.2764.

Remain long towards 1.2764. | 03 June 2020

03 June 2020, GBP/USD

Remain long towards 1.2764.

Wave Analysis

The British pound is currently in an active up trend, while the price is held above the Alligator indicator attached, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally to be the continuation of both the impulsive waves (E) and (5) and should break break above 1.26240. This view can only be invalidated in case the price breaks and closes below the alligator indicator, if this is the case, then we expect further momentum to the lower side and should continue to the lower side with an ideal target around 1.20864.

Trade Recommendations:

Remain long towards 1.2764.

Bob Stan
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