Wait | 12 Agustus 2020

12 Agustus 2020, GBP/USD

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Wave Analysis

The British pound is currently correcting itself to the lower side but within a contracting wedge formation. While the price is not able to clearly breakout above the upper trend line or below the lower trend line, we are waiting on the sidelines, we are expecting a breakout below the supportive trend line to push the price to the lower side towards 1.29325. And should the price break above the upper trend line, then we will be expecting further momentum to the upper side with an ultimate target around 1.3254 or even higher.

Trade Recommendations:

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