Sell a bounce from 1.21071 towards 1.20305

14 August 2019, GBP/USD

Sell a bounce from 1.21071 towards 1.20305

Wave Analysis

After breaking below the level 1.21071, the cable continued to rally to the lowerside and has only retraced back to this level once but could not go beyond 1.21071, as it is on the 4 hours chart attached, we're waiting for a retracement back towards the same level to pick a low risk sell order with an ultimate target at 1.20305. And in case the price breaks below 1.20305, then this will be an ideal place to look for a long term sell order towards 1.2000 or even lower. Only a clear breakout above 1.21071 will trigger a buy.

Trade Recommendations:

Sell a bounce from 1.21071 towards 1.20305

Graham Osano
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