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Sell the cable from the upper trendline, or below 1.29630.

Sell the cable from the upper trendline, or below 1.29630. | 10 May 2019

10 May 2019, GBP/USD

Wave Analysis

Yesterday, the cable pulled back to the upperside but failed to rise above 1.1040-1.30341, as long as the price remains below this level and also below the upper resistive trendline, we expect a possible steep decline towards 1.29505, the idea is to wait for a possible pullback to the upperside to pick a low risk sell order. The anticipated bearish price rally is the continuation of the impulsive wave (v) to the lowerside and should break below 1.29630 towards 1.28. If you're a bit skeptic to look for a sell order you could wait and sell a break below the recently lowest low.

Trade Recommendations:

Sell the cable from the upper trendline, or below 1.29630.

TRADING STRATEGY FOR FREE!

Bob Stan
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