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Remain short towards the lower trendline.

Remain short towards the lower trendline. | 26 October 2020

26 October 2020, GBP/USD

Look for low risk sell positions towards lower trendline

Wave Analysis

Ealier today, the British pound continued straight to the lowerside but is yet to reach or target set around the lower trendline. On this chart, the idea is to keep looking for long term sell positions with an ultimate target around the lower trendlne. If you are not already in a sell, you can still sell this pair now, have your stop loss above the previous week's highest high and your take profit along the lower trendlne. On this chart, only sell positions looks ideal and can safely be recommended.

Trade Recommendations:

Remain short towards the lower trendline.

Bob Stan
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