Remain bearish as long as the level 1.24125 limits any invasion to the upper side | 22 December 2016

22 December 2016, GBP/USD

Remain bearish as long as the level 1.24125

Wave Analysis:

The cable is currently trading with a declining bearish momentum. Earlier today, the pair rose slightly to the upper side, but not with the same momentum with which it fell during the previous trading days. We expect the current upward rally on the four hour chart to be a mere correction and should not go beyond 1.2412 from where we'll be looking to continue short with impulsive wave (c) towards 1.2029. The view can only be rendered futile in case the anticipated correction goes above 1.2412, if this is case, then a acceleration towards 1.2725 is inevitable. Expect an exact opposite wave count in USDJPY, NZDJPY, CADJPY and a similar price action in EURUSD and GBPHKD.

Trade Recommedations:

If you're not short already, wait for minor pullbacks towards 1.24125 to go short with an ideal target at 1.2029.

Bob Stan
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus