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We’re looking for a short position now. | 24 September 2018

24 September 2018, GBP/USD

We’re looking for a short position now.

Wave Analysis
During the previous week, the cable opened at,1.3058, went as high as 1.3297 and low as 1.3053 but ended up closing at 1.3079 just a few pips above its opening price. The previous weekly candle is a perfect bearish pin bar candle and as long as the price remains below the previous week’s highest high, 1.3297, we expect nothing but a possible momentum to the lower side. The anticipated bearish wave count should be an impulsive rally and should break below 1.2590 towards 1.2148 or even lower.
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We’re looking for a short position now.

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