GBPUSD. Sellers yet to come back | 08 Agustus 2019
08 Agustus 2019, GBP/USD
Wave Analysis
Since the begining of this week, the cable has been consolidating within the converging wedge formation. We're waiting for clear breakout below the supportive trendline to pick a long term sell order. A break below this supportive trendline will push the price even further to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (v) and should break below the previous week's lowest low with an ultimate target at 1.20185 or even lower towards 1.20.
Trade Recommendations:
We're waiting for a break below the supportive trendline to pick a long term sell towards 1.20185.
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.
