Remain short towards the lower trendline. | 07 ديسمبر 2020
07 ديسمبر 2020, GBP/USD
Wave Analysis
Late last week, the British pound bounced off from the upper trendline, headed straight to the lowerside and is still pretty much bearish. On this chart, we are looking for long term sell positions towards the lower trendline. If the price breaks and closes below the lower trendline, then futher momentum to the lowerside is expected with an ultimate target set around 1.33080-1.32907. If the price breaks and closes below 1.32907, then this will be a good place to consider further momentum to the lowerside.
Trade Recommendations:
Remain short towards the lower trendline.
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.
