we're short towards the lower trendline | 18 October 2018
18 October 2018, GBP/USD
Wave Analysis
The cable is currently rallying within the contracting wedge formation as long as the price is contained within the upper trendline and the lower trendline, we're only interested in trading reversals, and should the price breakout below the supportive trendline, then we'll expect a possible bearish acceleration and should break below 1.28310 towards 1.26930. And on the other side, should the price breakout above 1.32890, then this will be a good place to look for a long term long position towards 1.34.
Trade Recommendation:
we're short towards the lower trendline
101% Double the volume
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.
