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GBPUSD. Expect Sellers to dominate today

GBPUSD. Expect Sellers to dominate today | 02 July 2019

02 July 2019, GBP/USD

GBPUSD. Expect Sellers to dominate today

Wave Analysis

During the previous trading day, the cable declined below the upper trendline and is still pretty much bearish both on the daily and the weekly charts. As long as then price remains below this trendline, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the unfolding of an impulsive wave count and should break below 1.24925 or even lower. And on the flipside, should price break above 1.27735, then this will be an ideal place to look for long term buy orders.

Trade Recommendations:

We're looking for sell orders towards 1.24925.

Bob Stan
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