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Sell below 1.22790.

Sell below 1.22790. | 16 March 2020

16 March 2020, GBP/USD

Sell below 1.22790.

Wave Analysis

The cable is currently in an active downtrend. Following the break below the recent wedge formation, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of the impulsive wave (v) to the lower side and should break below 1.22360 towards 1.21345 and could head much lower. If you are looking at this chart now, we only recommend short positions but should the price break above 1.24500 towards 1.26630.

Trade Recommendations:

Sell below 1.22790.

Bob Stan
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