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Look for long term sell positions towards 1.27151.

Look for long term sell positions towards 1.27151. | 20 October 2020

20 October 2020, GBP/USD

Look for long term sell positions towards 1.27151.

Wave Analysis

During the previous trading day, we expected a possible impulsive wave to the lowerside, however, the price pulled back upwards but could not go beyond the 38.2% fib level, while we continue to see sustenance below 50.0% fib level,we are looking for long term sell positions towards 1.27151. If the price breaks and closes below this level, then we will be looking for more long term sell positions expecting price to move much lower towards 1.23000. A breakout beyond 38.2% fib level will push the price upwards.

Trade Recommendations:

Look for long term sell positions towards 1.27151.

Bob Stan
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