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Sell a breakout below 1.2733 with your take profit at 1.2420.

Sell a breakout below 1.2733 with your take profit at 1.2420. | 10 December 2018

10 December 2018, GBP/USD

Sell a breakout below 1.2733 with your take profit at 1.2420.
Wave Analysis:
Last week, nothing much happened on this pair, the cable closed just a few pips below its opening price. As we said previously, we’re still waiting for a clear sell signal especially if the price breaks below 1.2733. If this is the case, then further momentum even lower is expected. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should first break below the immediate trend line before a move even lower is seen. On the flip side, should the price bounce from 1.2733, then this will be a good place to look for long term buy position, with our first target at 1.3020 and the next at 1.3306.
Trade Recommendations:
Sell a breakout below 1.2733 with your take profit at 1.2420.

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