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Wait for a break below 1.25012 to pick a long term sell position.

Wait for a break below 1.25012 to pick a long term sell position. | 18 June 2020

18 June 2020, GBP/USD

Wait for a buy from 1.25013 with your target at 1.26625.

Wave Analysis

Despite the previous forecast that the British pound could rally much higher, nothing much appears to be happening on this pair. We are expecting a possible break below 1.25012 to confirm that we are continuing to the lower side with an ultimate target around 1.21235. And should the price break and close above 1.26675, then this will be a good place to consider a possible long term buy positions with an ultimate target around 1.27879, a break and a close above 1.27879 will mean we are continuing to the upper side towards 1.30.

Trade Recommendations:

Wait for a break below 1.25012 to pick a long term sell position.

Bob Stan
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