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Remain short towards 1.22600.

Remain short towards 1.22600. | 23 April 2020

23 April 2020, GBP/USD

Remain short towards 1.22600.

Wave Analysis

Yesterday, the British pound bounced off from the upper trend line and could not break any higher, now that the price is around the same place, we are into a sell position with an ultimate target around 1.22600. On its way to the lower side, the key level to look at include 1.23025 and 1.22600. On the flip side, should the price break and close above the upper trend line, if this is the case, then further momentum to the upper side with an ultimate target around 1.21520 and could break much higher towards 1.25165.

Trade Recommendations:

Remain short towards 1.22600.

Bob Stan
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