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Sell a break below 1.23985 towards 1.22.

Sell a break below 1.23985 towards 1.22. | 06 May 2020

06 May 2020, GBP/USD

Wave Analysis

The British pound bounced off from the supportive trendline and is currently heading to the upper side. While the price is held between the contracting wedge formation, we expect the price to rally between the two trend line, and in case the price breaks to the upper side, then we expect further momentum towards 1.25027, and should the price breakout below the supportive trend line, then we expect further momentum to the lower side and should break below 1.23985 towards 1.23830 or even lower.

Trade Recommendations:

Sell a break below 1.23985 towards 1.22.

Bob Stan
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