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Remain long towards the upper trendline.

Remain long towards the upper trendline. | 13 July 2020

13 July 2020, GBP/USD

Wave Analysis

During the previous week, the impulsive wave (E) continued to the upperside but is yet to hit our target set around the upper trendline, as it is now, we are waiting for a possible bounce from the upper term to pick a possible long term sell position. If you are already in a long position, keep this position open, but expect a possible bounce from the upper trendline, in case the price bounces from the upper trendline, then this will be a good place to consider a possible sell position with an ideal target around the lower trendline.

Trade Recommendations:

Remain long towards the upper trendline.

Bob Stan
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