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Sellers dominating this market

Sellers dominating this market | 23 May 2019

23 May 2019, GBP/USD

Sellers dominating this market

Wave Analysis

The impulsive wave (5) continued steadily to the lowerside and is still pretty much bearish on almost all the timeframes. As long as the price is protected by the two simple moving averages, we expect nothing but a possible steep decline towards 1.201 or even lower. If you did not pick this sell order as we mentioned in our previous analysis, you can still wait for retracements back towards 1.268356 to pick low risk sell orders towards 1.20 or even lower. The idea is to wait for a correction to get a low risk entry.

Trade Recommendations:

We're short towards 1.20

Bob Stan
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