We're short | 21 May 2018
21 May 2018, GBP/USD
Wave Analysis
After a consolidating around 1.35, the cable has now embarked on a bearish rally. As long as the price does not go above 1.3594, we expect a possible rally to the lower side and should go beyond the daily support level 1.3352. The anticipated bearish price rally is the continuation of the impulsive wave c to the lower side and may break beyond 1.3352 with our next target at 1.2697. This view can only be invalidated in case the price breaks above 1.3594, this being the case,. we'll expect a possible momentum towards 1.4231.
Trade Recommendations:
We're short towards 1.3352.
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.
