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Remain long towards 1.424.

Remain long towards 1.424. | 01 September 2020

01 September 2020, GBP/USD

Remain long towards 1.424.

Wave Analysis

During the previous trading day, both the impulsive waves (5) and (v) continued to the upperside and even went above 1.34475. As long the price remains above the upper trendline, we expect nothing but a possible momentum to the upperside, the idea is to look for long term buy positions expecting price to continue to the upperside with an ultimate target around 1.40. As it is now, we are waiting for a pullback towards the same the same trendline to look for a low risk buy position.

Trade Recommendations:

Remain long towards 1.424.

Bob Stan
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