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Sell GBPUSD with your take profit at 1.2800.

Sell GBPUSD with your take profit at 1.2800. | 20 December 2019

20 December 2019, GBP/USD

Sell GBPUSD with your take profit at 1.2800.

Wave Analysis

Just as previously forecasted the cable rallied to the lower side and even went below the support zone 1.3012-1.3086. As long as the price remains below this zone, we expect further momentum to the lowerside. The previously anticipated three wave cycle has been invalidated, which means now, I expect further momentum to the lower side and could break below 1.2870 or even lower. But should the price break and close above 1.3086, then this will be a good place to pick a buy.

Trade Recommendations:

Sell GBPUSD with your take profit at 1.2800.

Bob Stan
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