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We're short towards 1.24720.

We're short towards 1.24720. | 03 May 2018

03 May 2018, GBP/USD

Wave Analysis

During the previous trading day, the cable opened at 1.36121, went as high as 1.36648 and a low as 1.35541, but ended up closing at 1.35709, several pips below it's opening price, the previous day's candle was a perfect bearish pin bar candle and as long as the price is below the daily support level 1.35899 we expect a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 1.30440 towards 1.24720 or even lower.

Trade Recommendations:

We're short towards 1.24720.

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Bob Stan
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