Sell a break below the supportive trendline towards 1.27990. | 22 April 2019
22 April 2019, GBP/USD
Wave Analysis:
Perfectly as previously forecasted, the cable declined steeply and even went below the 4 hour support zone 1.30155-1.29933, this is a key zone and as long as the price remains below it, we expect nothing but a possible momentum to the upperside, the anticipated bearish price rally is the continuation of the impulsive wave (E) to the lowerside and should break below the previous week’s lowest low towards 1.2799. The idea is to wait for a clear breakout below the converging wedge to pick a low risk sell order towards 1.27.
Trade Recommendations:
Sell a break below the supportive trendline towards 1.27990.
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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.
