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GBPUSD. Wait for a rebuy from 1.25350.

GBPUSD. Wait for a rebuy from 1.25350. | 19 July 2019

19 July 2019, GBP/USD

GBPUSD. Wait for a rebuy from 1.25350.

Wave Analysis

The cable is currently consolidating to the lowerside, we expect the current bearish price rally to be the continuation of the corrective wave (iv), but should not go beyond the 4 hour support level 1.25350. As long as the price remains above this level, we expect nothing but a possible momentum to the lowerside but should not go beyond 1.25350 where we'll look for a long term buy order towards 1.25753. This view can only be invalidated in case the price break below 1.25350, if this is true, then further move to the lowerside is expected.

Trade Recommendations:

Wait for a rebuy from 1.25350.

Bob Stan
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