12 September 2018, GBP/USD
The Cable is currently rallying within a contracting wedge formation. As long as the price is contained within this shape formation,. we expect the corrective three wave cycle to continue to the upperside and should breakout above 1.30990. However, should the price break below the supportive trendline, then this will be a good place to look for long term short position with an ultimate target at 1.2680. If this target is broken, then further momentum even lower is expected. This downward rally is highly expected since the weekly chart is very bearish.
101% Double the volume