Sell a breakout below 1.2733 with your take profit at 1.2420. | 10 ديسمبر 2018
10 ديسمبر 2018, GBP/USD
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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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
