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Wait for a correction to pick a low risk sell position.

Wait for a correction to pick a low risk sell position. | 11 Septiembre 2020

11 Septiembre 2020, GBP/USD

Wait for a correction to pick a low risk sell position.

Wave Analysis

During the previous trading day, the British pound continued to the lowerside and is still pretty much bearish both on then daily and on the weekly charts. On this chart, we are waiting for a clear bounce from the level 1.30200 to pick a possible long term sell position. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 1.25980 towards 1.23820. If you are on this chart, keep looking for low risk sell positions expecting price to rebound from 1.30200 to the lower side.

Trade Recommendations:

Wait for a correction to pick a low risk sell position.

Bob Stan
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