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Resell the cable from 1.2705 with your take profit at 1.21804.

Resell the cable from 1.2705 with your take profit at 1.21804. | 19 December 2018

19 December 2018, GBP/USD

Wave Analysis

The cable continues to pullback to the upperside but is still below the level 1.2705. As we mentioned in our previous forecasts, as long as the price is below this level, we expect nothing but a possible steep decline towards 1.21804. If you're not in any position at the momentum, there's a good sell on the daily chart should price bounce from 1.2705, then this will be a good place to look for a good sell position. Another place to sell from is s break below 1.21804, if this is the case, then a rally even lower is expected.

Trade Recommendations:

Resell the cable from 1.2705 with your take profit at 1.21804.

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Bob Stan
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