Remain short towards 1.39769. | 13 May 2021
13 May 2021, GBP/USD
Wave Analysis
Yesterday, the British pound rallied to the lowerside and is now below the alligator indicator, as long as the price remains below this indicator, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave count and should break below 1.39768 towards 1.38010. On flipside, should the price break above 1.41119, then we are expecting further momentum to the upperside with an ultimate target set around 1.42.
Trade Recommendations:
Remain short towards 1.39769.
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