Remain long towards 1.30. | 10 Juni 2020

10 Juni 2020, GBP/USD

Remain long towards 1.30.

Wave Analysis

The British pound continues to rally to the upper side and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains above the two simple moving averages, we expect nothing but a possible momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (v) and should break beyond 1.2841 towards 1.30 or even higher. If you are on this chart now, keep looking for long term buy positions until when the price breaks below the red 200 period moving average.

Trade Recommendations:

Remain long towards 1.30.

Bob Stan
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