Wave Analysis
After a massive bearish rally last week, this week, GBPUSD is yet to show any serious moves to the lowerside, we expect the previous day’s move to the upper side to be a mere correction and should not go beyond the lower trend line. If you are looking at this chart now, keep looking for sell position. Expect the price to continue to the lower side and should break below the lower trendline. And break below this support will push the price much lower towards 1.20460. A bounce from the supportive trendline will push the price much higher.
Trade Recommendations:
Remain short towards the lower trend line.
Origin: FreshForex
