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Remain short towards 1.26680.

Remain short towards 1.26680. | 14 October 2020

14 October 2020, GBP/USD

Wave Analysis

Few days ago, the British pound bounced off nicely from the 50.0% fib level and is currently heading to the lowerside, we took a sell after this rebound and is still holding, our expectations is that the price should continue to the lowerside and should breakout below 23.6% fib level towards 1.26680. If you are on this chart now, keep looking for long term sell positions. And in case the price breaks and closes above 50.0% fib level then this will be a good place to look for long term buy positions towards 1.33799.

Trade Recommendations:

Remain short towards 1.26680.

Bob Stan
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