GBPUSD. Buy a bounce from the supportive trendline. | 07 August 2019
07 August 2019, GBP/USD
Wave Analysis
The cable is currently trading within a rising channel formation. While the price is contained within this channel, we expect a spike even higher. The best place to pick trade on this pair is to wait for a bounce from the supportive trendline to pick a low risk buy order. But in case price breaks below this supportive trendline, I expect a possible rally to the lowerside. And should price break above 1.22105, then this will be an ideal place to look for a long term buy towards 1.22605.
Trade Recommendations:
Buy a bounce from the supportive trendline.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
