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Expect a possible momentum towards 1.30194

Expect a possible momentum towards 1.30194 | 13 Agustus 2020

13 Agustus 2020, GBP/USD

Expect a possible momentum towards 1.30194

Wave Analysis

The British pound is currently rallying within a bullish channel formation. We went short following the bounce from the upper trendline and is still holding, our expectations is that the price should continue to the lower side towards the lower trend line. But in case the price breaks and closes above the upper trendline, then this will be a good place to consider a long term buy position. And in case the price breaks and closes below the lower trendline, then this will be a good place to consider a long term sell position.

Trade Recommendations:

Expect a possible momentum to the lower trendline.

Bob Stan
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