GBPUSD. Wait for a sell from 1.24400. | 18 Juli 2019
18 Juli 2019, GBP/USD
Wave Analysis
After a massive pullback to the upperside, the cable is currently showing signs of selling off from around 1.24408. Basically, we expect the bounce from this level to have marked an end to the corrective wave (iv), that the current rally to the lowerside is the continuation of the impulsive wave (v) to the lowerside and should breakout below 1.24010 towards 1.23770 or even lower. As it is, as long as the price remains below 1.24400, we expect a sell, but should price break above 1.24000, we're looking for a buy.
Trade Recommendations:
Wait for a sell from 1.24400.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
