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Sell a break below 1.2790 with your take profit at 1.2260.

Sell a break below 1.2790 with your take profit at 1.2260. | 22 November 2019

22 November 2019, GBP/USD

Remain long with an ideal take profit at 1.2980.

Wave Analysis

Yesterday, our stops were taken out when the price went below the end of the corrective wave (4). This move has invalidated the previously anticipated bullish move towards 1.3020, As long as the price does not clearly rise above 1.2980, and close higher. I expect a possible sell. This sell will be more ideal in case the price breaks and closes below 1.2780, if this is the case, then further momentum to the lowerside is expected. This should be the continuation of an impulsive wave count and could see the price go beyond 1.2260.

Trade Recommendations:

Sell a break below 1.2790 with your take profit at 1.2260.

Bob Stan
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