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We're looking for a sell towards 1.24560.

We're looking for a sell towards 1.24560. | 29 October 2019

29 October 2019, GBP/USD

Sell the cable with your take profit at 1.26600.

Wave Analysis

In line with the previous day's analysis, the cable continued to the lowerside but is still very much bearish both on the daily and on the weekly charts. As long as the price is contained below 1.28640, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the corrective three wave cycle and should break below 1.27280 towards 1.21840. This view can only be invalidated in case the price breaks above the end of the corrective wave (b), 1.29320.

Trade Recommendations:

We're looking for a sell towards 1.24560.

Bob Stan
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