Wait for a sell from the upper trendline. | 24 Julio 2020
24 Julio 2020, GBP/USD
Wave Analysis
According to the chart attached, the British pound is currently in an active up trend. As long as the price remains above the 61.8% fib level, we expect further momentum to the upper side but should not go beyond the upper trend line. The anticipated bullish price rally is the continuation of the impulsive wave (E) but should not go above the upper trend line. If this trendline is broken, then we are likely to see a surge to the upper side towards the swing high 1.32240. A bounce from it will call for a short position.
Trade Recommendations:
Wait for a sell from the upper trend line.
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.
