Sterlina / DollaroShort
GBPUSD corrective wave might terminate around 1.3000 at least
GBPUSD had rallied through 1.3500 from 1.1414 lows in March 2020. The entire rally is being retraced at the moment and could reach up to 1.2200 mark going forward. The proposed structure could be A-B-C drop from 1.3500 levels. A probable Wave A looks to be complete around 1.2765 mark while an expanded flat Wave B might be underway towards 1.3000 at least, to terminate Wave B. Once complete, we can expect a Wave C lower towards 1.2200 mark before bulls take control back.
Remain short stop @ 1.3500, target is 1.2200
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short stop @ 1.3500, target is 1.2200
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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