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We're continuing short below the lower trendline.

We're continuing short below the lower trendline. | 01 October 2018

01 October 2018, GBP/USD

The cable

We're continuing short below the lower trendline.

Wave Analysis

Instead of a rebound from 1.30609, the cable pulled back to the lowerside and even went below it, as long as the price remains below this level, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should break below the immediate supportive trendline . If this is the case, then further momentum to the lowerside is expected. According to the chart attached, only a clear breakout above 1.30609 will attract a long term long position.

Trade Recommendations:

We're continuing short below the lower trendline.

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