GBPUSD counter trend progressing towards 1.3000 or 1.3150/80
GBPUSD is unfolding into a corrective drop A-B-C towards 1.2200, after having print highs around 1.3500 on September 01, 2020. Further, the currency might have terminated Wave A around 1.2765 mark. Wave B might be unfolding as an expanded flat and terminate towards 1.3000 or push further through 1.3150/80 resistance zone. Either way, GBPUSD is expected to resume Wave C lower towards 1.2200 mark anytime soon. Good to sell on rallies.
Remain short, stop @ 1.3500, target @ 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.
Remain short, stop @ 1.3500, target @ 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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