we're sellers | 29 May 2019

29 May 2019, GBP/USD

we're sellers

Wave Analysis

Since 9th this month, the cable has been in an active downtrend. However, on 24th of this month, the pair rose above the upper resistance cloud formation. Following the return below the same cloud formation, we expect nothing but a possible momentum further to the lowerside with an ultimate target at 1.26081. If this target is broken, then we expect the impulsive wave (5) to continue to the lowerside with the next ideal target at 1.25710 or even lower. As it is on the hourly chart, buy orders are very risky and cannot be recommended.

Trade Recommendations:

We're looking for long term sell orders with our first take profit at 1.26081

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus