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Sell the cable after a correction towards 1.3018.

Sell the cable after a correction towards 1.3018. | 24 December 2019

24 December 2019, GBP/USD

Sell the cable after a correction towards 1.3018.

Wave Analysis

The rallied steeply to the lower side and is now below the supportive zone 1.3018-1.3072, the break below this zone is good sign that sellers are dominating this market, As long as the price is kept below this zone, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of an impulsive wave count and could push price even lower towards 1.2810. This view can only be invalidated in case the price breaks and closes above 1.3072.

Trade Recommendations:

Sell the cable after a correction towards 1.3018.

Bob Stan
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