We're short. | 22 October 2018

22 October 2018, GBP/USD

We're short.

Wave Analysis

After breaking below 1.3084, Euro pulled back to the same place but could not break above. As long as the price is below 1.3084, we expect nothing but a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break beyond 1.2920 towards 1.2840 or even lower. According to the chart above conservative traders could place a pending sell limit order at 1.3084 with their stop loss above Last Thursdays Highest high.

Trade Recommendations:

We're short.

101% Double the volume

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