Remain short towards 1.20011 | 25 April 2019

25 April 2019, GBP/USD

Wave Analysis

The cable is currently trading with an increasing bearish bias momentum. Following the breakout below 1.30103, we had a pending sell limit order around 1.29526. The price triggered this trade and we're currently in a sell trade. As long as the price remains confined below 1.29526, we're looking for sell orders. The anticipated bearish price rally is the continuation of the impulsive wave (E) and should extend lower towards the next key level 1.20011. If you're not in a short position right now, you can wait for retracements.

Trade Recommendations:

Remain short towards 1.20011

Trade CFD on NYSE, MOEX and NASDAQ corporate stocks without swap.

Bob Stan
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