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Look for sell orders towards 1.24925.

Look for sell orders towards 1.24925. | 26 Junio 2019

26 Junio 2019, GBP/USD

Look for sell orders towards 1.24925.

Wave Analysis

Yesterday, the cable bounced off from the resistance trendline and is currently heading to the lowerside. As we mentioned in our previous forecast, we're still looking for a sell. What we expect to happen is that the price should rise temporarily towards the upper trendline then sell off towards 1.24925. While this is true that the price is below the mentioned trendline, we're looking for a long term sell. A break below the level 1.24925 will push the price further to the lowerside with the next target being 1.24045.

Trade Recommendations:

Look for sell orders towards 1.24925.

Bob Stan
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