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We're still short

We're still short | 29 June 2018

29 June 2018, GBP/USD

Wave Analysis

For the better part of this week, the impulsive wave (c) has extended significantly to the lower side and is still pretty much bearish both on the daily and the weekly charts. However, on the monthly, we're likely to witness a scenario where the price moves slightly to the lower side before a big move to the upper side is seen. With this in mind, monthly view, we're waiting for the impulsive wave (c) to stretch slightly to the lower side, then we'll pick a long term long position with an ultimate target around 1.42865.

Trade Recommendations:

We're still short towards 1.27252

101% Double the volume

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Bob Stan
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