27 May 2021, GBP/USD
Wave Analysis
The British pound is showing signs of sustaining itself below the Alligator indicator, while the price remains below this blue line, we are sellers. Ideally, we expect the rebound from 1.42155, to have marked an end to the last impulsive wave (E) that the current bearish price rally is the continuation of a corrective wave count and could see the price surge downwards with an ideal target set 1.39696, a break below this level will push the price much lower with the next ideal target set at 1.37955.
Trade Recommendations:
We are sellers towards 1.39696.
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