Expect a possible bearish price rally | 19 September 2016
19 September 2016, GBP/USD
Wave Analysis:
Unfortunately, our stop got hit when the pair broke below the supportive trending. Following this breakout, we expect a possible bearish price rally towards the lower trend line and could go below 1.2700. If the latter is true, then it means the corrective wave D was merely testing the upper trend line and that we are continuing short with the impulsive wave E towards the lower trend line. Expect a similar price action in AUD/USD and NZD/USD. These pairs will have a parallel price action during this intraday.
Trade Recommendations:
Expect a possible bearish price rally towards 1.2700
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.
