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Remain short with an ultimate target around 1.28385.

Remain short with an ultimate target around 1.28385. | 03 November 2020

03 November 2020, GBP/USD

Remain short with an ultimate target around 1.28385.

Wave Analysis

Nothing much happened during the previous trading day, the price continues to consolidate within an expanding wedge formation but is still within an expanding wedge formation. While we continue to see sustenance within the steep channel formation, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the last impulsive wave (v) to the lower side and should break below this week's lowest low with an ultimate target set around 1.28385.

Trade Recommendations:

Remain short with an ultimate target around 1.28385.

Bob Stan
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