Remain short. | 06 Agustus 2018
06 Agustus 2018, GBP/USD
Wave Analysis
Just as in euro, instead of rallying to the upper side, The cable declined steeply and even went below the weekly support level 1.31896. This was a significant move and as long as the price remains below 1.31, we expect a possible extension of the impulsive wave (c) to the lowerside and should break below 1.329 but should not go lower than 1.2725. This is not to say this level, but a break below this level, will likely push the price steeply to the lower side with the next ultimate target at 1.20000.
Trade Recommendation:
Remain short.
101% Double the volume
!Attention!
All bonus participates in drawdown!
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.
