04 June 2021, GBP/USD
Wave Analysis
During the previous trading day, the British pound rallied to the lower side and is still very much bearish. As long as the price remains below the lower trend line, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 1.39940 and may extend much lower towards 1.39010. In case the price breaks above the immediate upper trend line, then we will be looking for long term buy orders.
Trade Recommendations:
We're sellers towards 1.39940.
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