Elliott waves analysis – Pending buy limit order at 1.3036

GBPUSD – Flat

Wave Analysis

Earlier today, the cable gaped above the Friday’s close. We’re waiting for a possible correction towards the Fridays opening price to buy this pair. The anticipated bullish price rally is the continuation of the impulsive wave (c) to the upper side and should break above 1.31045 towards 1.31960. As it is according to the daily chart, we’re having a pending buy limit order fixed at 1.3036 with our stop loss below 1.2965, and take profit at 1.3196. If you’re long already, you could leave this position open.

Trade Recommendations:

Pending buy limit order at 1.3036

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