Remain short towards 38.2% fib level. | 07 Julio 2020
07 Julio 2020, GBP/USD
Wave Analysis
Few days ago, the British pound established a swing high around 1.25200 and could not breakout any higher. As long as the price remains below this swing high, we\re expecting a possible correction towards the 38.2% fib level. And should the price breakout above this high, then further momentum to the upper side is expected with an ultimate target at 1.2654. As it is now, we are expecting the impulsive wave (c) to push the price to the lower side and should break below 23.6% fib level towards 38.2% fib level.
Trade Recommendations:
Remain short towards 38.2% fib level.
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.
