28 Agustus 2019, GBP/USD
Wave Analysis
After breaking above the level 1.2220, the cable moved massively to the upperside and is still pretty much bullish both on the hourly and the 4 hours charts. As long as the price is contained within the rising channel formation, we expect nothing but a possible momentum to the upperside. As it is, we expect a possible correction towards the lower trendline before we pick a long term buy towards 1.23120 or even higher. This view can only be invalidated in case the price breaks below the supportive trendline.
Trade Recommendations:
Expect a possible momentum towards the supportive trendline.