Elliott waves analysis – GBPUSD. Only sell a breakout below 1.24925

GBPUSD – Flat

GBPUSD. Only sell a breakout below 1.24925

Wave Analysis

The cable is currently trading above 1.24925, as long as the price remains above this level, we expect nothing but a possible momentum to the upperside. The anticipated bullish price rally is the continuation of an impulsive wave count but should not go beyond 1.27585. And on the flipside, we’re waiting for price to breakout below 1.24925 to confirm further bearish momentum . On its way to the lowerside the key levels to look for include 1.24945, 1.2482 and 1.2475. If these levels are broken, then further move to the lowerside is expected.

Trade Recommendations:

Only sell a breakout below 1.24925

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