We're sellers | 08 May 2019
08 May 2019, GBP/USD
Wave Analysis
The current dominant trend on this pair is downwards. Yesterday, the price went below a key level 1.30910 and is still pretty much below it. We're eyeing a possible bounce from the level 1.3000 to pick a low risk buy, but should price breakout below, then this will be a good place to look for a long term sell order towards 1.28835. If you're a bit skeptic to look for a sell towards 1.3000, you could have your pending buy limit from 1.3000 with your stop loss below 1.29430, and take profit at 1.32985.
Trade Recommendations:
Buy the cable from 1.3000 take profit at 1.32985.
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.
