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Wait and buy a rebound from 1.21352-1.20231

Wait and buy a rebound from 1.21352-1.20231 | 21 April 2020

21 April 2020, GBP/USD

Wait and buy a rebound from 1.21352-1.20231

Wave Analysis

After the possible bearish pin bar seen last week, the British pound continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. We expect further momentum towards 1.21352-1.20231 and could breakout towards 1.15150. A rebound from within 1.21352-1.20231 will give us the correct opportunity to consider a possible long term buy position with an ideal target around 1.32981. On its way to the upper side, the key lines to look for include 1.26950 and 1.30300.

Trade Recommendations:

Wait and buy a rebound from 1.21352-1.20231 with your take profit at 1.32981 and SL below 1.13500.

Bob Stan
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