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Watch the level 1.2768 for a possible buy position.

Watch the level 1.2768 for a possible buy position. | 22 November 2018

22 November 2018, GBP/USD

Watch the level 1.2768 for a possible buy position.

Wave Analysis

The cable is still rallying above 1.2768, we're waiting for a clear breakout below 1.2768 to confirm that we're short with an ideal target at 1.2100. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should first break below 1.2535, if this is the case, then further momentum further to the lowerside is expected. And on the flip side, should the price bounce from 1.2768, then this will be an ideal place to pick an upward position with an ideal target at 1.3301.

Trade Recommendations:

Buy a bounce from 1.2768 towards 1.3301

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