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Look for sell positions towards 1.20244.

Look for sell positions towards 1.20244. | 20 August 2019

20 August 2019, GBP/USD

Look for low risk sell orders towards 1.20244.

Wave Analysis

During the previous trading day, the cable continued 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 the upper 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 1.20244 towards 1.2000 or even lower. Should price break below 1.20244, then this will be a confirmation that we're continuing to the lowerside.

Trade Recommendations:

Look for sell positions towards 1.20244.

Bob Stan
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