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Look for low risk sell positions towards lower trendline

Look for low risk sell positions towards lower trendline | 23 October 2020

23 October 2020, GBP/USD

Look for low risk sell positions towards lower trendline

Wave Analysis

Yesterday, the British pound bounced off from the upper trendline, headed to the lowerside but is still pretty much bearish. While the price remains below the upper trendline,we are looking for nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of a corrective wave count and could see price breakout below the supportive trendline towards 1.28760. On the upperside should the price breakout above the upper trendline, then a rally towards 1.33 is expected.

Trade Recommendations:

Look for low risk sell positions towards lower trendline

Bob Stan
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