Elliott waves analysis – Only sell a clear break below 1.31895

GBPUSD – Flat

Only sell a clear break below 1.31895

Wave Analysis

After the bullish pin bar candles seen for the past two weeks, the cable is yet to show any clear move to the upper side. Rather, this pair continues to loose value but is still above 1.31895. As long as the price remains above this weekly support, we expect a possible momentum to the upperside. However, should the price get below 1.31895, we’ll expect a spike to the lower side. The anticipated bearish price rally will be the continuation of the impulsive wave (c) and should break below 1.25252 but should not go beyond 1.19890.

Trade Recommendations:

Only sell a clear break below 1.31895

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