Place a pending sell limit order at 1.26810. | 12 December 2018
12 December 2018, GBP/USD
Wave Analysis
After breaking below the 4 hour support level 1.26810, the cable is yet to pullback to the same level. Just as we mentioned in our previous forecast, as long as the price remains below this level, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (5) and may go beyond 1.24395. If you're not in any trade at the moment, you could wait for price to pullback upwards towards 1.2810 to pick a long term short position towards 1.24395.
Trade Recommendations:
Place a pending sell limit order at 1.26810.
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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.
