05 Juli 2021, GBP/USD
Wave Analysis
The british pound is currently approaching our stop out level 1.38950. This is a significant level and while the price is contained below it, we are sellers, however in case the price breaks above this level, then we are likley to see buyers take control with an ideal target set aroound 1.39875. If the price breakout above this level, then further momentum much higher is expected. And on the otherside, should the price breakout below 1.37930, then further momentum to the lowerside, is expected with the next ideal target set around 1.36. If the price should extend much lower below this level, then we are now complete sellers expecting the price to surge towards 1.35 and may push itself much lower.
Trade Recommendations:
We're sellers towards 1.35 or even lower.
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