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Remain short towads 1.32400.

Remain short towads 1.32400. | 10 December 2020

10 December 2020, GBP/USD

Remain short towads 1.32400.

Wave Analysis

The British pound attempted to break above 1.34470-1.34300 but ended up closing below it, now we expect further momentum to the lower side and may see price break below the lower trendline. If you are on this chart now, expect a possible bounce from the lower trendline to pick a low risk buy position with an ideal target at 1.34470. If the impulsive wave (c) breaks below the lower trendline, then we will be expecting further momentum to the lower side with an ultimate target set around 1.31540.

Trade Recommendations:

Remain short towards 1.32400.

Bob Stan
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