Elliott waves analysis – Resell the cable below 1.27233

GBPUSD – Flat

Wave Analysis

Perfectly as we said previously, the impulsive wave (c) extended to the lower side and is still pretty much bearish both on the daily and the weekly charts, during this trading day, and possibly in the next few days, we expect the impulsive wave (c) to extend to the lower side and should break below 1.27233 towards 1.21331. If you’re not already in a short position, you should wait for a clear break below 1.27233 to pick a low risk short position with your first target at 1.25155 and rte next ideal target at 1.21331.

Trade Recommendation:

Resell the cable below 1.27233

101% Double the volume

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