18 May 2018, GBP/USD
During the previous trading day, the cable opened at 1.3495, went as high as 1.3568 and as low as 1.3473 but ended up closing at 1.3515, just a few pips above it's opening price. The previous day's candle is a possible sign that, although buyers are still in this market, sellers are coming in. With the previous day's candle in mind, we expect a slight move to the upper side before a drastic move is seen to the lower side. The anticipated bearish price rally will be the continuation of the impulsive wave c and may break below 1.3352 towards 1.2697 or even lower.
We're still short towards 1.3352