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Remain short towards 1.29580.

Remain short towards 1.29580. | 10 August 2020

10 August 2020, GBP/USD

Wave Analysis

The British Pound corrected itself to the lower side and even went below the alligator indicator attached, while the price remains below this indicator, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of a correction to the lower side and should break below 1.30120 towards 1.27975. And on the flip side, should the price break and close above 1.31725, then this will be a good place to consider another long term buy position.

Trade Recommendations:

Remain short towards 1.29580.

Bob Stan
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