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GBPUSD. Remain short towards 1.24696.

GBPUSD. Remain short towards 1.24696. | 16 Julio 2019

16 Julio 2019, GBP/USD

GBPUSD. Remain short towards 1.24696.

Wave Analysis

During the previous trading day, the cable plunged massively to the lowerside and is still pretty much bearish both on the daily and the weekly charts. Following the breakout below 1.25190-1.25169, we expect nothing but a possible momentum to the lowerside, basically, we expect the bounce from 1.25190 to have marked an end to the corrective wave (b), that the current impulsive wave to the lowerside is the continuation of the impulsive wave (c) and should continue lower towards 1.24696, conservative traders can wait for retracements to pick long term sell orders.

Trade Recommendations:

Remain short towards 1.24696.

Bob Stan
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