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Sell the cable below 1.2492 with your take profit at 1.2405

Sell the cable below 1.2492 with your take profit at 1.2405 | 18 June 2019

18 June 2019, GBP/USD

Sell the cable below 1.2492 with your take profit at 1.2405

Wave Analysis

Yesterday, our stops were taken out when the price broke below the supportive trendline, and is still few pips below. This is a possible bears dominance signs, and while the price is contained below the just broken trendline, we're expect a decline towards 1.2492. Any clear breakout below this support may culminate into a possible momentum even further to the lowerside. As it is, we're waiting for either a bounce from 1.2492 to pick a low risk, but short term buy order, or a break below to pick a long term sell.

Trade Recommendations:

Sell the cable below 1.2492 with your take profit at 1.2405

Bob Stan
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