Remain long towards 1.2645. | 08 June 2020

Wave Analysis

The British pound continues to rally to the upper side and is still pretty much bullish both on the daily and on the weekly charts. This is perfectly in line with what was previously forecasted, as long as the price remains above the two simple moving averages, 200 period and 52 period, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of both the impulsive waves (5) and 5 to the upperside and should break above 1.2840 towards 1.3425. A pullback towards any of these moving averages will give a good buy opportunity.

Trade Recommendations:

Remain long towards 1.2645.