Remain short. | 19 Maret 2020

19 Maret 2020, GBP/USD

Remain short.

Wave Analysis

During the previous trading day, the impulsive wave (c) spiked massively to the lowerside and is still pretty much bearish both on the daily and on the weekly charts. Following the break below 1.20590, we expect further momentum to the lower side, as it is now, we are likely to see a possible bounce back to the upper side to pick a low risk sell order from, 1.20590. If you are looking for a trade on this chart, wait for a possible retracement to pick a low risk sell order with an ultimate target around 1.2059.

Trade Recommendations:

Remain short.

Bob Stan
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