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Look for sell orders towards 1.25.

Look for sell orders towards 1.25. | 31 May 2019

31 May 2019, GBP/USD

Look for sell orders towards 1.25.

Wave Analysis

During the previous few days, the cable pulled back to the upperside but has now embarked on a move to the lowerside. As long as the price remains below 1.26380, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (5) and should break below 1.25685 or even lower. As it is, only sell positions looks more ideal, but should price rise above the cloud formation, we'll expect a possible momentum to the upperside.

Trade Recommendations:

Look for sell orders towards 1.25.

Bob Stan
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