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Remain short.

Remain short. | 09 Septiembre 2020

09 Septiembre 2020, GBP/USD

Remain short.

Wave Analysis

GBPUSD is currently in an active downtrend. As long as the price remains below the 21 period moving average, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below 1.280 or even lower towards 1.27. As it is now, on this chart, buying or holding onto a buy position very risky and may not be recommended. But in case the price breaks above 1.30570, then we will expect a rally to the upperside.

Trade Recommendations:

Remain short.

Bob Stan
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