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What to do with long waiting time ?

I have a Ultimate Managed WordPress Websites hosting plan and optimised my wordpress as far as I could.

When I am checking in Google PageSpeed Insights I am getting the result bellow,

Screenshot (73).png


So Checked in Gt Matrix and I could identiy the slow loading is because of Waiting time, sharing the results bellow

Screenshot (67).png


Screenshot (70).png


Screenshot (72).png

 Now my question is, how to reduce waiting time of Teer ?