sell a rejection from 1.30404 towards 1.29381. | 05 نوفمبر 2020
05 نوفمبر 2020, GBP/USD
Wave Analysis
Earlier today, the British pound bounced off from the supportive trendline, headed straight to the upperside but is currently bouncing off from the level 1.30404. This is a significant level and while the price is not able to break and closes above it, we are on the sidelines, we are waiting for a clear rejection from this level to pick a sell position,. a break and close above it will push the price to the upper side with an ultimate target set around 1.31185. A breakout above this level will push the price towards 1.35 or even higher.
Trade Recommendations:
Scalpers may sell a rejection from 1.30404 towards 1.29381.
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.
