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Look for low risk sell positions towards 1.24805.

Look for low risk sell positions towards 1.24805. | 29 September 2020

29 September 2020, GBP/USD

Look for low risk sell positions towards 1.24805.

Wave Analysis

Yesterday, the British pound rose massively to the upperside but ended up few pips below the level 1.28085. As long as we continue to see sustainance below this level, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of an impulsive wave count and could see price breakout below 1.24805 towards 1.22507. On the otherside, should the price break beyond 1.30072, then this may be a good place to consider a possible long term buy position.

Trade Recommendations:

Look for low risk sell positions towards 1.24805.

Bob Stan
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