Elliott waves analysis – Place a pending buy limit order around 1.27355

GBPUSD – Flat

Place a pending buy limit order around 1.27355

Wave Analysis

The cable is currently trading with an increasing bearish bias momentum. Yesterday, this pair rushed to the lower side but is still above our demand level set at 1.27355. As long as the price remains above 1.27355, we’re looking for a possible long term buy. Conservative traders should have their pending buy limit order around 1.27355 with their stop loss below last month’s lowest low and take profit at 1.33390. And should price close below 1.27355 by the end of this month, then this will be a good place to look for a sell.

Trade Recommendations:

Place a pending buy limit order around 1.27355

BECOME FRESHFOREX ANALYST!

You may check other analytical reviews on FreshForex website. Source: freshforex.com.