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Wait for a sell from around 1.30490.

Wait for a sell from around 1.30490. | 10 September 2020

10 September 2020, GBP/USD

Wave Analysis

After breaking below both the supportive trendline and also below 1.30490. The British pound pulled back to the same level 1.30490 and is currently heading to the lowerside. While we continue to see sustenance below 1.30490, we are waiting for a pullback to the same zone to pick a low risk sell position. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below the lower trendline. This view can only be invalidated in case the price breaks above the upper trendline.

Trade Recommendations:

Wait for a sell from around 1.30490.

Bob Stan
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