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Sell a bounce from the upper trendline.

Sell a bounce from the upper trendline. | 29 November 2019

29 November 2019, GBP/USD

Sell a bounce from the upper trendline.

Wave Analysis

Even after a momentum to the upper side, the cable still could not reach the upper trendline, other than this trendline, the next level is 1.2980. as long as the price remains below these two,. we expect further momentum to the upperside, and should the price breakout and close above this level, then further momentum to the upperside. And in case of a bounce from the upper trendline, then further momentum to the lowerside is expected with an ultimate tagret along the lower trendline. A break below this trendline will push the price to the lowerside.

Trade Recommendations:

Sell a bounce from the upper trendline.

Bob Stan
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