Sell the cable below 1.2492 with your take profit at 1.2405 | 18 Juni 2019
18 Juni 2019, GBP/USD
Wave Analysis
Yesterday, our stops were taken out when the price broke below the supportive trendline, and is still few pips below. This is a possible bears dominance signs, and while the price is contained below the just broken trendline, we're expect a decline towards 1.2492. Any clear breakout below this support may culminate into a possible momentum even further to the lowerside. As it is, we're waiting for either a bounce from 1.2492 to pick a low risk, but short term buy order, or a break below to pick a long term sell.
Trade Recommendations:
Sell the cable below 1.2492 with your take profit at 1.2405
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.
