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Wait | 17 July 2020

17 July 2020, GBP/USD

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Wave Analysis

Nothing significant happened during the previous trading day, The British pound closed a few pips below its opening price. As long as the price remains within the previous day's range, we are waiting for a clear breakout above the previous high to pick a buy, or a break below the previous day's low to pick a sell position. As it is now, we're likely to see a possible continuation to the lower towards the 61.8% fib level and may continue much lower towards 1.22630. A breakout above 1.26660 will push the price upwards.

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Bob Stan
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