We're Long | 05 October 2018
05 October 2018, GBP/USD
Wave Analysis:
On the weekly chart attached, instead of rallying to the lower side as previously forecasted, the cable pulled back upwards and is still pretty much bullish both on the 4 hour and the daily charts. This pair is however very bearish on the weekly charts, therefore, we expect the current bullish price rally to be a correction and may continue towards 1.30867 and should not head any higher. The ideal here to look for a long position but with a take profit at 1.30867. A sell position can be recommended in case the price breaks below 1.29183.
Trade Recommendations
We're Long
101% Double the volume
!Attention!
All bonus participates in drawdown!
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
