Waiting for a possible buy from around 1.28500. | 28 Februari 2020

28 Februari 2020, GBP/USD

Waiting for a possible buy from around 1.28500.

Wave Analysis

The cable continues to move to the lower side but is still above the level 1.28500. This is a major support area, and while the price is not able to clearly break above it, we choose to remain on the sidelines, we are waiting for a possible bounce from it to pick a long term sell order towards 1.20450. On its way to the lower side, the key levels to look for include 1.24450, 1.22450 and 1.22350. If these lines are broken, then further momentum much lower is expected towards 1.18450.

Trade Recommendations:

Waiting for a possible buy from around 1.28500.

Bob Stan
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