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flat | 24 May 2019

24 May 2019, GBP/USD

flat

Wave Analysis

During the previous trading day, the cable declined steeply but could not go below the level 1.26150. As long as the price remains above this level, we're on the sidelines, in the meantime, we expect the current rally to the upperside to be a mere correction to the upperside but should not go beyond 1.27020. And on the flipside, only a clear breakout below 1.26150 to pick a long term sell order with an ultimate target at 1.24 or even lower. As it is, we recommend remaining on the sidelines.

Trade Recommendations:

Flat

Bob Stan
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