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Wait for a correction to pick a low risk buy position.

Wait for a correction to pick a low risk buy position. | 27 Juli 2020

27 Juli 2020, GBP/USD

Wave Analysis

Last week, We saw a surge to the upper side, the impulsive wave (iii) broke and closed above the previous week's highest high and is still above this zone, while the price is held above 1.26670, we expect nothing but a possible momentum to the upper side, the anticipated bullish price rally is the continuation of the impulsive wave (iii), if you are not already in a long position, you could wait for a correction towards 1.27440 to pick a possible low risk buy position with your target set at 1.29.

Trade Recommendations:

Wait for a correction to pick a low risk buy position.

Bob Stan
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