Wait for a bounce from the supportive trendline to pick a low risk buy position. | 24 أغسطس 2020
24 أغسطس 2020, GBP/USD
Wave Analysis
The British pound continues to consolidate in an upwards manner. While we're seeing sustenance within the two trendline, we expect nothing but a possible momentum to the upperside, then current move we are seeing to the lowerside is just but a correction to the lowerside but should not go below the supportive trendline. In case the price breaks and closes below the supportive trendline, then this will be a good chance to keep looking for long term sell position with an ultimate target around 1.27600.
Trade Recommendations:
Wait for a bounce from the supportive trendline to pick a low risk buy position.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
