Buy a breakout above 1.30045 towads 1.30295. | 06 Oktober 2020

06 Oktober 2020, GBP/USD

Buy a breakout above 1.30045 towads 1.30295.

Wave Analysis

The British pound is currently in an active up trend. On this chart, if the price breaks above the previous day's highest high, then this will be a good place to consider a possible long term buy position with an ultimate target set around 1.30295. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upper side and should first breakout above 1.30045 towards 1.30295. A failed attempt to break beyond 1.30045 will provide us with a good place to consider a possible long term sell position towards 1.29045.

Trade Recommendations:

Buy a breakout above 1.30045 towards 1.30295.

Bob Stan
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