Remain short with an ultimate target around 1.21095. | 22 May 2020

22 May 2020, GBP/USD

Remain short with an ultimate target around 1.21095.

Wave Analysis

The British pound continues to rally below the 52 Simple moving average. As long as the price remains below the SMA, I expect nothing but a possible momentum to the lowerside is expected towards 1.21095. The anticipated bearish price rally is the continuation of the impulsive wave (v) and could break and close below 1.21095 towards 1.20365. This view can only be invalidated in case the price breaks and closes above 1.23045, if this is the case then further momentum to the upperside is expected with an ultimate target around 1.24290. Trade Recommendations:

Remain short with an ultimate target around 1.21095.

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus