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Wait to rebuy with your target at 1.33799

Wait to rebuy with your target at 1.33799 | 12 October 2020

12 October 2020, GBP/USD

Wait to rebuy with your target at 1.33799

Wave Analysis

Last week, the British pound successfully closed above the zone 1.30023-1.30270. As long as the price remains above this zone, we expect nothing but a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave count and should push the price much higher with an ultimate target set at 1.33799. If the price breaks beyond this level, then we will be looking for further momentum much higher towards 1.35. Only a break below 1.30023 will push the price to the lower side.

Trade Recommendations:

Look for low risk buy positions towards 1.33799.

Bob Stan
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