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Remain short towards 1.21700.

Remain short towards 1.21700. | 19 June 2020

19 June 2020, GBP/USD

Remain short towards 1.21700.

Wave Analysis

During the previous trading week, the impulsive wave (c) continued to the lower side and is still pretty much bullish both on the daily and on the weekly charts. As long as the price remains below the previous day's lowest low, we expect nothing but a possible momentum to lower side. We're expecting a possible break below 1.23580 towards 1.21700. But should the price break and close above the previous week's highest high, then further momentum to the upper side is expected.

Trade Recommendations:

Remain short towards 1.21700.

Bob Stan
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