Remain short towards the 50.0% fib level. | 16 Julio 2020
16 Julio 2020, GBP/USD
Wave Analysis
The British pound is currently in a short term sell position, As long as the price remains below the Alligator indicator attached, we expect nothing but a possible momentum to the lower side, basically, we are expecting a possible correction towards the 50.0% fib level. And in case the price breaks and close below this fib level, then a plunge towards the verified support level 1.22630 is expected. On the flip side, only a clear breakout above the swing high 1.26660 will mean we are continuing to the upper side towards.
Trade Recommendations:
Remain short towards the 50.0% 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.
