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Wait | 10 January 2019

10 January 2019, GBP/USD

Sell The cable now, and have your stoploss above last week's highest high, and take profit at 1.2156.

Wave Analysis

Just as in the Euro, The cable continues to rally upwards despite the previous forecast that it could plunge. We're waiting for the close of this week to confirm that we're short with an ultimate target at 1.2156. And as we mentioned previously a close above 1.2724 may trigger a possible bullish priice rally towards 1.3165. But a close below the same level will trigger a possible long term sell towards 1.2156. The anticipated sell position is the continuation of the impulsive wave c to the lowerside and should first break below 1.2405.

Trade Recommendations:

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Bob Stan
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