Remain short. | 09 September 2020
09 September 2020, GBP/USD
Wave Analysis
GBPUSD is currently in an active downtrend. As long as the price remains below the 21 period moving average, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below 1.280 or even lower towards 1.27. As it is now, on this chart, buying or holding onto a buy position very risky and may not be recommended. But in case the price breaks above 1.30570, then we will expect a rally to the upperside.
Trade Recommendations:
Remain short.
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.
