Elliott waves analysis – Expect sellers to dominate today

GBPUSD – Flat

Expect sellers to dominate today

Wave Analysis

During the previous trading day, the cable declined steeply and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below the previous day’s opening price we, expect nothing but a possible momentum to the lowerside with an ultimate target at 1.27618. If you’re a bit skeptic to pick this sell order, you can wait and buy a bounce from the level 1.27618 or a breakout above 1.33130 to pick a long term buy with the next ideal target at 1.42919.

Trade Recommendations:

We’re short towards 1.27618.

TRADING STRATEGY FOR FREE! UNTIL THE MAY 10TH

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