Waiting for a possible buy from around 1.28500. | 28 Februari 2020
28 Februari 2020, GBP/USD
Wave Analysis
The cable continues to move to the lower side but is still above the level 1.28500. This is a major support area, and while the price is not able to clearly break above it, we choose to remain on the sidelines, we are waiting for a possible bounce from it to pick a long term sell order towards 1.20450. On its way to the lower side, the key levels to look for include 1.24450, 1.22450 and 1.22350. If these lines are broken, then further momentum much lower is expected towards 1.18450.
Trade Recommendations:
Waiting for a possible buy from around 1.28500.
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.
