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
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .