Sell the cable from either 1.24241 or wait and buy a bounce from 1.20928. | 27 Agustus 2019
27 Agustus 2019, GBP/USD
Wave Analysis
Despite the bullish pin bar seen during the previous week on Friday, the cable plunged massively during the previous trading and is still pretty much bearish both on the 4 hours and the daily charts. As long as the price remains below 1.24241, we expect nothing but a possible momentum towards the level 1.20928. A break below this support will mean we're continuing with both the impulsive waves 5 and (c) and should continue massively to the lower side towards 1.14655 or even lower.
Trade Recommendations:
Sell the cable from either 1.24241 or wait and buy a bounce from 1.20928.
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.
