Elliott waves analysis – Buy the cable around 1.3209

GBPUSD – Flat

Buy the cable around 1.3209

Wave Analysis

Earlier today, the cable declined in value despite the previous forecast that it could rise. We’re waiting for a potential buy position around the previous week’s opening price 1.3309. Should the price close below this level by the end of today, then we expect a rally towards last week’s lowest low 1.3202 which is also a good buy place. The idea here is t buy the cable upon a clear rebound from 1.3209 and have you stop below 1.3202 and take profit at 1.4246. Should the price close below last week’s lowest low, then expect a rally further lower.

Trade recommendation.

Buy the cable around 1.3209 with your take profit at 1.4246.

101% Double the volume

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