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Remain short.

Remain short. | 13 May 2020

13 May 2020, GBP/USD

Remain short.

Wave Analysis

During the previous trading day, both the impulsive wave (v) and (c) continued to the lower side and is still pretty much bearish. As long as the price remains below the previous day's lowest low, we expect nothing but a possible momentum to the lower side, the anticipated bearish price rally is the continuation of both the impulsive waves (v) and (c) and should break below 1.22315 towards 1.21 or even lower. As it is now, we are waiting for a possible correction towards the previous day's highest high to pick a low risk sell position.

Trade Recommendations:

Remain short.

Bob Stan
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