23 August 2018, GBP/USD
Wave Analysis
The corrective wave (4) failed to head towards 1.2977, instead the pair rebounded 1.2852 and is now heading to the lowerside. We still have our pending sell trade around 1.2977 and is holding. Our expectations is that the current downward rally is just a minor move and should not go beyond 1.2755. We're still waiting for a bounce 1.2977 to sell the impulsive wave (5) at the least risk possible, with this position, we expect a possible momentum to the lower side and should break below 1.2655 towards 1.25 or even lower.
Trade Recommendation
Waiting for a bounce from 1.2977
101% Double the volume
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