Remain long towards 1.3365. | 19 Agustus 2020

19 Agustus 2020, GBP/USD

Remain long towards 1.3365.

Wave Analysis

During the previous trading day, the British pound continued to the upper side and even went above the level 1.31770. While the price remains above 1.31770 we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (v) to the upperside and should breakout above 1.32680. If the price pulls back to the lower side, then the next best place to consider a trade from is around 1.31770. A break any lower will push the price towards 1.29940.

Trade Recommendations:

Remain long towards 1.3365.

Bob Stan
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