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Look for buy positions towards 1.33799.

Look for buy positions towards 1.33799. | 13 October 2020

13 October 2020, GBP/USD

Look for buy positions towards 1.33799.

Wave Analysis

The British pound is still being held above the zone 1.30023-1.30270. As we indicated in our previous forecast, while we continue to see sustenance above this zone, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count and could see price breakout beyond 1.33799 or even higher. And on the flipside, should the price breakout below 1.30023, then further momentum much lower is expected towards 1.27460.

Trade Recommendations:

Look for buy positions towards 1.33799.

Bob Stan
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