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Wait for a sell around 1.25027.

Wait for a sell around 1.25027. | 05 May 2020

05 May 2020, GBP/USD

Wait for a sell around 1.25027.

Wave Analysis

Yesterday, the British pound reached the lows of 1.24000 before bouncing back to the upper side, we expect the current bullish price rally to be a correction to the upper side but should not go beyond 1.25027. As it is now, we expect further momentum to the upper side, towards 1.25027 where we'll be looking for a low risk sell order. The idea is to look for a sell from around 1.25027 with our stop loss above 1.26010. With this sell position, we expect a possible momentum towards 1.2400 and could breakout much lower towards 1.23110.

Trade Recommendations:

Wait for a sell around 1.25027.

Bob Stan
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