Remain short with an ultimate target around 1.20. | 14 May 2020
14 May 2020, GBP/USD
Wave Analysis
During the previous trading day, the impulsive wave (v) continued to the lower side and is still pretty much bearish both on the daily and on the weekly charts. As long as the price remains below 1.22495, we expect further momentum to the lower side and is still pretty much bearish both on the daily and on the weekly charts. We expect the impulsive wave (v) to break below 1.21750 or even lower. This view can only be invalidated in case the price breaks and closes above the previous day's highest.
Trade Recommendations:
Remain short with an ultimate target around 1.20.
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.
