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Wait for a correction towards 1.23444 to pick a low risk sell order.

Wait for a correction towards 1.23444 to pick a low risk sell order. | 03 September 2019

03 September 2019, GBP/USD

Wait for a correction towards 1.23444 to pick a low risk sell order.

Wave Analysis

The previous month's candle was a perfect indecision candle below a key monthly level 1.23444-1.22377. As long as the price remains below this zone, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of both the impulsive wave s 5 and (v) and should continue steeply but should not go beyond 1.13375 by the end of this month. As it is, conservative traders should wait for a pullback towards 1.23444 to pick a low risk sell order.

Trade Recommendations:

Wait for a correction towards 1.23444 to pick a low risk sell order.

Bob Stan
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