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Look for low risk buy positions towards 1.30267.

Look for low risk buy positions towards 1.30267. | 07 October 2020

07 October 2020, GBP/USD

Look for low risk buy positions towards 1.30267.

Wave Analysis

Currently the British pound is bouncing off of the supportive trendline. As long as the price remains above the upper trend line, we expect nothing but a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (E) to the upper side and should breakout above the upper trend line towards 1.4251 or even higher. An on the flipside, only a clear breakout below the lower trend line will push the price to the lower side with an ultimate target set around 1.27168.

Trade Recommendations:

Look for low risk buy positions towards 1.30267.

Bob Stan
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