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GBPUSD. Sell a breakout below the previous day's lowest low.

GBPUSD. Sell a breakout below the previous day's lowest low. | 01 August 2019

01 August 2019, GBP/USD

GBPUSD. Sell a breakout below the previous day's lowest low.

Wave Analysis

During the previous trading day, despite the spike seen to the upperside, the cable ended up closing bearish by the end of yesterday's trading day. We expect further momentum to the lowerside and if the price can breakout below 1.21180, then this will be an ideal place to look for long term sell orders. The anticipated bearish price rally is the continuation of the impulsive wave (v) and may extend even further to the lowerside with an ultimate target at 1.20 or even lower towards 1.19.

Trade Recommendations:

Sell a breakout below the previous day's lowest low.

Bob Stan
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