Remain short | 11 اكتوبر 2016
11 اكتوبر 2016, GBP/USD
Wave Analysis
The Cable continues to hit lower lows and will likely head further to the lower side.We expect minor corrections of the impulsive wave (c) to give us low risk sell opportunities towards $1.1700. At the moment, this pair is pretty much bearish, and executing buy orders may not be fruitful at all. We hope to trade this pair alongside USD/CAD. This pair have a strong negative correlation of up to -46% and will have an exact opposite price action during this intraday.
Trade Recommendation:
Remain short with the first target at 1.1700.
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.
