We're short | 22 May 2019

22 May 2019, GBP/USD

We're short

Wave Analysis

The cable is currently trading with an increasing bearish bias momentum. As long as the price is contained below the two simple moving averages, we expect nothing but a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (5) to the lowerside and should break below 1.26670 towards 1.26320 or even lower. The idea is to wait for retracements to the upperside to pick low risk sell orders from 1.27360 with an ideal target at 1.26670.

Trade Recommendations:

We're short

Bob Stan
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