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Wait for a possible sell around 1.31789.

Wait for a possible sell around 1.31789. | 31 January 2019

31 January 2019, GBP/USD

Wait for a possible sell around 1.31789.
Wave Analysis
During the previous trading day, the cable pulled back upwards but is still below the level 1.31309 – 1.31789. As long the price remains below this zone, this is still a good sell place., but, in case the price breaks above 1.31789, then this will be an ideal place to look for a long term buy position towards 1.43405. The idea here is to either wait for a break above 1.31789 to pick a long term buy or a bounce from around 1.31309-1.31789 to pick a sell towards 1.27141. If this level is broken, then further bearish move towards 1.21750 or lower is expected.
Trade Recommendations:
Wait for a possible sell around 1.31789.

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Bob Stan
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