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We are short with our target at 1.29200.

We are short with our target at 1.29200. | 27 Octubre 2020

27 Octubre 2020, GBP/USD

We are short with our target at 1.29200.

Wave Analysis

After bouncing off of the upper trendline, the British pound continued massively to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. While we continue to see sustenance within the shape shown above, we are waiting for a buy from the lower trendline and a sell from the upper trendline. A breakout below the supportive trendline will push the price to the lowerside with an ultimate target fixed around 1.27150. A break above the upper trendline will push the price towards 1.32.

Trade Recommendations:

We are short with our target at 1.29200.

Bob Stan
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