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GBPUSD. We're looking for sell orders towards 1.24925.

GBPUSD. We're looking for sell orders towards 1.24925. | 05 July 2019

05 July 2019, GBP/USD

GBPUSD. We're in a sell towards 1.24925

Wave Analysis:

The cable continues to plunge and is still pretty much bearish both on the daily and the weekly charts. As long as the price is below the upper trendline, we expect nothing but a possible momentum to the lowerside, the main idea here is to wait for retracements to the upperside, then pick low risk sell orders with an ultimate target at 1.24925, any clear breakout below this level will mean we're continuing to the lowerside with the next ideal target being 1.24045. As it is, only a bounce from 1.24925 will attract a long term buy.

Trade Recommendations:

We're looking for sell orders towards 1.24925.

Bob Stan
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