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Expect a possible momentum towards the upper trendline.

Expect a possible momentum towards the upper trendline. | 11 May 2020

11 May 2020, GBP/USD

Expect a possible momentum towards the upper trendline.

Wave Analysis

Last week, the British pound bounced off from the supportive trendline, headed to the upper side and is still pretty much bearish both on the daily and on the weekly charts, while the price is held above the lower trendline, we expect the impulsive wave (D) to continue to the upper side but should not go beyond the upper trendline, a break above this trendline will mean we are continuing to the upper side towards 1.26500 while a break below the lower trendline will mean we are looking for a sell towards 1.22030.

Trade Recommendations:

Expect a possible momentum towards the upper trendline.

Bob Stan
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