Buy GBPUSD towards the upper trendline. | 12 November 2019

12 November 2019, GBP/USD

Buy GBPUSD towards  the upper trendline.

Wave Analysis

During the previous trading day, the cable could not sustain the break below the supportive trendline. Instead, the pair pulled back to the upperside and is now within the contracting wedge formation. As long as the price remains within this shape formation, I expect a possible momentum to the upperside and should not break above the upper trendline. This view can only be invalidated in case the price rallies higher and goes above 1.3020. If this is the case, then a possible momentum towards 1.41 or even higher is expected.

Trade Recommendations:

Buy GBPUSD towards the upper trendline.

TRADE FUEL WITHOUT SWAPS!
Bob Stan
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