GBP/USD: bulls are aimed at an uptrend

GBP/USD: bulls are aimed at an uptrend

2019-11-11 • Updated

Recommendations:

BUY 1.4195

SL 1.414

TP1 1.4295 TP2 1.443 TP3 1.4515

On the daily chart of GBP/USD, a correction within the “Shark” pattern’s transformation to 5-0 ended at the level of 38.2% from the CD wave. To resume the uptrend bulls should break the resistance at 1.4122. As a result, odds of 113% and 127.2% targets of “Shark” and “AB=CD” patterns will increase.

gbpusd_d.png

On H1, after the pair reached the first target of the “Wolfe waves” pattern a natural pullback happened. To continue the rally, bulls should break the resistance at 1.4195.

gbpusd_60.png

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