28 April 2020, GBP/USD
Wave Analysis
The cable failed to pull up to the level we expected it to go to, instead the pair is now moving to the lowerside, we expect the current bearish price rally to be the continuation of a corrective wave count and should not go beyond 1.21650. If you are looking at this chart now, expect a possible bounce from 1.21650 to pick a low risk buy. The anticipated bullish price rally is the continuation of the green last impulsive wave towards 1.33363, a break above this level will push the price upwards. A break below 1.21650 will push the price to the lower side.
Trade Recommendations:
Remain short with your target at 1.21650, or wait and buy a rebound from 1.21650.