24 August 2018, GBP/USD
Wave Analysis
Few days ago, the corrective wave (4) headed significantly to the upper side but could not go above 1.2960, we expected a momentum towards this level then a rebound to pick a short position, however, at the moment, the rebound from 1.29 seems to have marked an end to the corrective wave (4), that the current bearish price rally is the continuation of the impulsive wave (5) to the lower side and should first break below 1.2645. If this should be the case, then further bearish momentum is expected.
Trade Recommendation
we're short
101% Double the volume