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Remain short. | 06 August 2018

06 August 2018, GBP/USD

Remain short.

Wave Analysis

Just as in euro, instead of rallying to the upper side, The cable declined steeply and even went below the weekly support level 1.31896. This was a significant move and as long as the price remains below 1.31, we expect a possible extension of the impulsive wave (c) to the lowerside and should break below 1.329 but should not go lower than 1.2725. This is not to say this level, but a break below this level, will likely push the price steeply to the lower side with the next ultimate target at 1.20000.

Trade Recommendation:

Remain short.

101% Double the volume

!Attention!
All bonus participates in drawdown!
More detailed…
Bob Stan
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