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15.10.202012:10 Forex Analysis & Reviews: Trading idea for the GBP/USD pair

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A strong bullish momentum went through the pound yesterday, from which long positions can be opened after a pullback.

In fact, a three-wave pattern has already formed on the daily chart, with which wave A is the strong bullish impulse recorded yesterday.

If long positions are opened along the 50% retracement zone, profit will be 2: 1, especially if the quote reaches the first target, which is 1.31. Stopping at the level of 1.29, on the other hand, will increase the risk.

The main target of this bullish strategy is the round level of 1.35.

Good luck!

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