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Look for sell positions towards 1.27151.

Look for sell positions towards 1.27151. | 19 Oktober 2020

19 Oktober 2020, GBP/USD

Look for sell positions towards 1.27151.

Wave Analysis

Few days ago, the British pound almost hit the 50.0% fib level before embarking on a bearish momentum. As long as the price remains below the 50.0% fib level, we expect nothing but a possible momentum to the lower side with an ultimate set around 1.27151. A break below this level will push the price much lower towards 1.23740. And in case the price breaks out above 38.2% fib level then further momentum much higher will be expecting with an ultimate target set around 61.8%.

Trade Recommendations:

Look for sell positions towards 1.27151.

Bob Stan
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