sell the cable below 1.33051 | 28 May 2018
28 May 2018, GBP/USD
Wave Analysis
Last week, we saw a drastic decline in the value of pound against the us dollar but is currently bouncing from a daily support level 1.33516. We're patiently waiting for a breakout below this level to confirm a possible rally towards 1.26974. The anticipated bearish price rally is the continuation of the impulsive wave c to the lowerside and may extend beyond 1.26974 towards 1.21477 or even lower. This view can only be invalidated in case of a rebound from 1.33516, this being the case, we'll expect a momentum towards 1.37115.
Trade Recommendation.
sell the cable below 1.33051 towards 1.26974
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.
