Wait | 27 May 2020
27 May 2020, GBP/USD
Wave Analysis
After establishing a support around 1.20920, the British pound pulled back to the upperside and even hit the 50.0% fib level. While the price is not able to clearly break beyond the 50.0, we're expecting a possible momentum to the lowerside and should break beyond 1.22090. A break below the 23.6 % fib level will be a good place to consider a long term sell order towards 1.20630. And on the flip side should the price break and close above 50.0% fib level, then this will be a good place to consider a possible long term buy order towards 61.8% fib level.
Trade Recommendations:
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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.
