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We're short from 1.26810 towards 1.24405.

We're short from 1.26810 towards 1.24405. | 13 December 2018

13 December 2018, GBP/USD

Wave Analysis:

After breaking below 1.26010 the cable is yet to pullback to the same level. As long as the price remains below this level we expect further moment to the lowerside. We're waiting for a pullback towards the same level to pick a long term short position with an ultimate target at 1.2405. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside and should first break below 1.25255 before a move further to the lowerside is seen with an ultimate target at 1.2000. You could place a pending sell limit at 1.26010.

Trade Recommendations:

We're short from 1.26810 towards 1.24405.

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Bob Stan
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