GBP/USD Forecast: expect a momentum to the lower side

news_22_feb_1_gbp_usdWave Analysis

Instead of rallying to the upper side as previously anticipated, the cable continues to correct itself to the lower side but should not go beyond the previous week’s opening price. If you’re not already already in a long position, you could wait for a correction towards 1.31897 to pick a low risk buy position with an ultimate target at 1.42905, this long position will be much better should the price break above 1.32945. However, another scenario is possible where the price could rebound from 1.32945, if this is the case, then we’ll expect a momentum to the lower side.

Trade Recommendations:

We’re still looking forward to long term long position.

Still bullish

Origin: FreshForex

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