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Wait for a bounce from 1.23310 to pick a low risk sell order.

Wait for a bounce from 1.23310 to pick a low risk sell order. | 03 October 2019

03 October 2019, GBP/USD

Wave Analysis

After a slight correction to the upperside, the Corrective wave (iv) could not break above 1.23310. Instead the cable bounced off from this level and is currently heading to the lowerside. As long as the price remains below 1.23310, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (v) and should break below 1.22235 towards 1.201 and could head even lower. This view can only be invalidated in case the price breaks above 1.23310.

Trade Recommendations:

Wait for a bounce from 1.23310 to pick a low risk sell order.

TRADE METALS WITHOUT SWAPS!

Bob Stan
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