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Remain short towards 1.25190.

Remain short towards 1.25190. | 10 July 2020

10 July 2020, GBP/USD

Remain short towards 1.25190.

Wave Analysis

After reaching the high of 1.26685, The British pound pulled back to the lower side and is currently heading to the lower side, we expect the current bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 1.25350 towards 1.24740. As it is on the daily chart, we expect nothing but a possible momentum to the lower side. This view will only be invalidated in case the price breaks and closes above 1.26835, then this may be a good place to look for buy position.

Trade Recommendations:

Remain short towards 1.25190.

Bob Stan
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