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Sell the cable with your take profit at 1.2585.

Sell the cable with your take profit at 1.2585. | 08 November 2019

08 November 2019, GBP/USD

Wave Analysis

Instead of bouncing off of the supportive trendline as previously forecasted, the cable rallied to the lowerside and even went below the supportive trendline. As long as the price is contained below this trendline, we expect noting but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (c) to the lowerside and should break below 1.2720 towards 1.2540 or even lower. This view can only be invalidated in case the price again break above the same trendline.

Trade Recommendations:

Sell the cable with your take profit at 1.2585.

Bob Stan
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