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Sell the cable on a pullback towards 1.40040

Sell the cable on a pullback towards 1.40040 | 06 April 2018

06 April 2018, GBP/USD

Sell the cable on a pullback towards 1.40040

Wave Analysis:

Since the cable rebounded from the daily hourly resistance level 1.410890, this pair has been in a constant downtrend, perfectly as forecasted and could extend even further to the lower side. We expect the level 1.40295 to have marked the end of the corrective wave (b) that the current bearish price rally is the continuation of the impulsive wave (c) to the lower side and should not go beyond 1.39020. If you're not short already, you could wait for a pullback towards 1.40295 then pick a short position towards 1.39020.

Trade Recommendations:

Sell the cable on a pullback towards 1.40040 towards 1.39020

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Bob Stan
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