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Look for sell positions | 21 July 2020

21 July 2020, GBP/USD

Look for sell positions

Wave Analysis

After reaching the high of 1.26785, the British pound is currently pulling back to the lowerside, we expect further momentum to the lowerside. As it is now, this is a possible negative divergence formation. Today around 3 in the morning, while the price was around 1.26785, the stochastic was around 90, we expect price and the indicator to get back to their respective levels at the same time, however, the price went above the previous high, while the stochastic went below the 90.0% fib level, this is a possible negative divergence formation. We expect sellers to control this market.

Trade Recommendations:

Look for sell positions

Bob Stan
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