On the Sidelines. | 21 February 2020
21 February 2020, GBP/USD
Wave Analysis
Despite the previous day's forecast that this pair could continue to the lower side, the cable continues to pullback to the upper side but is still below the level 1.28950. As long as the price remains below the level 1.28950, we expect nothing but a possible momentum to the lower side, the anticipated bearish rally is the continuation of the corrective wave (4) but should not go beyond 1.26450. A clear bounce from around 1.26450 will mark an end to the corrective wave (4) and the beginning of the next impulsive wave (5) towards 1.33342.
Trade Recommendations:
On the Sidelines.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
