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We're short towards 1.18910.

We're short towards 1.18910. | 21 May 2019

21 May 2019, GBP/USD

We're sellers

Wave Analysis

The cable is currently trading with an increasing bearish bias momentum. As long as the price remains below the zone 1.42355, w expect nothing but a possible ,momentum to the lowerside. The anticipated bearish bias price rally should be an impulsive wave count and should first break below 1.24520 before a move even lower is seen. The idea is to wait for retracements to the upperside to pick low risk sell orders with an ideal target at 1.18910. As it is what is worth knowing is that long term sellers are based at 1.42355 and long term buyers are based at 1.18910.

Trade Recommendations:

We're short towards 1.18910.

Bob Stan
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