Remain short towards 1.25190. | 10 July 2020
10 July 2020, GBP/USD
Wave Analysis
After reaching the high of 1.26685, The British pound pulled back to the lower side and is currently heading to the lower side, we expect the current bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 1.25350 towards 1.24740. As it is on the daily chart, we expect nothing but a possible momentum to the lower side. This view will only be invalidated in case the price breaks and closes above 1.26835, then this may be a good place to look for buy position.
Trade Recommendations:
Remain short towards 1.25190.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
