GBPUSD – Flat
Wave Analysis
Instead of continuing to the upperside as previously forecasted, the British pulled back to the lowerside and is now around a significant supportive level 1.19494. This is a key level and while the price does not break and below it, we are waiting for a rebound from it to pick a possible long term buy position towards 1.21460 and may likely extend much higher. On this chart, we are looking for nothing buy orders unless the price breaks and closes below 1.19494.
Trade Recommendations:
We’re buyers towards 1.21460.
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