On the sidelines. | 16 May 2019
16 May 2019, GBP/USD
Wave Analysis
The cable is currently trading within a falling channel formation. As long as the price remains within this shape formation, we expect to trade reversals from these two lines. A clear breakout below the supportive trendline will mean we're looking for a long term sell order towards 1.2688. And should price breakout to the upperside, then we're going to wait for a confirmation that the price will continue to the upperside with the next ideal target at 1.34300. A breakout above 1.33480 will be the right confirmation that the price is continuing to the upperside.
Trade Recommendations:
Wait
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
