GBP/USD Forecast: long as the price remains below this zone

com-l4Wave Analysis

At this point, we’re waiting for a sell from around 1.21286-1.20334. As long as the price remains below this zone, we are waiting for a bounce from it to pick a long term sell order. The anticipated bearish price rally is the continuation of both the impulsive waves (E) and (V) and should break below 1.13385 towards 1.11212. We expect the bullish move seen from Monday this week to be the unfolding of a correction and should not go beyond 1.21286 where we’ll be looking for a long term sell order.

Trade Recommendations:

Waiting for a possible sell from 1.21286.

Waiting for a possible sell from 1.21286.

Origin: FreshForex

 

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