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GBPUSD. Look for long term sell orders with an ultimate target at 1.20.

GBPUSD. Look for long term sell orders with an ultimate target at 1.20. | 30 July 2019

30 July 2019, GBP/USD

GBPUSD. Look for long term sell orders with an ultimate target at 1.20.

Wave Analysis

During the previous trading day, the cable conti9nued massively to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below 1.22140, 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 may go beyond 1.2024. As it is on the daily chart, we don't recommend looking for buy orders, instead, sell orders are encouraged towards 1.20.

Trade Recommendations:

Look for long term sell orders with an ultimate target at 1.20.

Bob Stan
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