02 августа 2019, GBP/USD
Wave Analysis
Since the beginning of this week, the cable has been in an active downtrend and is still pretty much bearish both on the 4 hours and the weekly charts, As long as the price remains below the level 1.22460, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of both the inner impulsive wave (v) and the outer wave 5. As it is, on the 4 hours chart, we recommend looking for long term sell, orders with an ultimate target at 1.20400 and could extend even lower.
Trade Recommendations:
Look for long term sell orders
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