Remain short towards 1.21650. | 08 May 2020
08 May 2020, GBP/USD
Wave Analysis
During this week, the cable moved to the lower side and is still pretty much bearish both on the daily and on the weekly charts. We expect further momentum to the lower side and should not go beyond 1.21650. A bounce from this target will be a good place to consider a long term buy with our target around 1.33363. If you are on this chart, consider looking for long term buy orders towads 1.33363. As it is now, expect a possible momentum to the lower side towards 1.21650 and could break below towards 1.16350.
Trade Recommendations:
Remain short towards 1.21650.
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.
