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Look for a sell position below 1.2768 with your take profit at 1.2100.

Look for a sell position below 1.2768 with your take profit at 1.2100. | 04 Diciembre 2018

04 Diciembre 2018, GBP/USD

Look for a sell position below 1.2768 with your take profit at 1.2100.

Wave Analysis

During the previous trading day, the cable declined steeply and even went below the daily support level 1.2768, as long as the price remains below this level, we expect the cable to slide further to the lowerside with the next ideal target at 1.2100. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should first break below 1.2510 before a move further to the lowerside is seen. In case the price again rise above 1.2764, then we'll be looking for low risk short term buy positions towards 1.3301.

Trade Recommendations:

Look for a sell position below 1.2768 with your take profit at 1.2100.

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