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Remain long towads 1.28.

Remain long towads 1.28. | 09 June 2020

09 June 2020, GBP/USD

Remain long towards 1.2645.

Wave Analysis

On this chart, we are yet to see any clear correction to the lower side, as long as the British pound remains above the two simple moving averages above, I expect nothing but a possible momentum to the upper side towards 1.27460. A pull back towards either the 52 period simple moving average will give us a good place to consider a possible long term buy order. But should the price break below the 52 period SMA, then the next place to wait for a bounce around the 200 SMA, a break below the 200 SMA will mean we are continuing to the lower side towards 1.23040.

Trade Recommendations:

Remain long towards 1.28.

Bob Stan
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