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Look for sell positions towards 1.16310.

Look for sell positions towards 1.16310. | 04 September 2020

04 September 2020, GBP/USD

The level 1.33342 is a significant weekly resistance level

Wave Analysis

On this chart, we are seeing signs that the price may successfully close below 1.33342. If the current week's candle can successfully close below 1.33342, then this will be a good place to consider long term sell positions towards 1.27830. And this will be a good place to consider looking for sell position. And in case the price again climbs above 1.33342. Then we will have no choice but to pick a buy position. At this point, only sell positions looks ideal and can safely be recommended.

Trade Recommendations:

Look for sell positions towards 1.16310.

Bob Stan
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