07 августа 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.
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