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Remain long with an ultimate target at 1.29.

Remain long with an ultimate target at 1.29. | 05 June 2020

05 June 2020, GBP/USD

Wave Analysis

After a pullback towards 23.6% fib level, the British pound continued to the upper side but is currently approaching a key resistance level 1.26420. A breakout above the level 1.26420 will be a good sign that we are continuing to the upper side with the impulsive wave (v) to the upper side with an ultimate target around 1.2765. A break beyond this target will be a good sign that we are continuing to the upper side with an ultimate target around 1.290. On the flip side, should the price pullback to the lower side, then the best place to look for a buy is around 23.6% fib level or 38.2 fib level.

Trade Recommendations:

Remain long with an ultimate target at 1.29.

Bob Stan
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