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GBPUSD. Look for long term sell orders

GBPUSD. Look for long term sell orders | 02 August 2019

02 August 2019, GBP/USD

GBPUSD. Look for long term sell orders

Wave Analysis

Since the beginning of this week, the cable has been in an active downtrend and is still pretty much bearish both on the 4 hours and the weekly charts, As long as the price remains below the level 1.22460, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of both the inner impulsive wave (v) and the outer wave 5. As it is, on the 4 hours chart, we recommend looking for long term sell, orders with an ultimate target at 1.20400 and could extend even lower.

Trade Recommendations:

Look for long term sell orders

Bob Stan
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