Sell a bounce from the upper trendline. | 30 Octubre 2019
30 Octubre 2019, GBP/USD
Wave Analysis
After an impulsive move to the upperside, the cable is currently correcting itself to the lowerside. We expect the current bearish move seen within the contracting wedge formation to be a mere correction and should not go beyond the level 1.27200. If this target is broken, then, this will be a good sign of a change in trend and could mean we're heading to the lowerside with an ultimate target at 1.22325. This view can only be invalidated in case the price breaks and closes above 1.29915.
Trade Recommendations:
Sell a bounce from the upper trendline.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
