Elliott waves analysis – Sell a clear breakout below 1.27252.

GBPUSD – Flat

Sell a clear breakout below 1.27252.

Wave Analysis: Just as in euro, during the previous trading day, the cable lost value significantly but is currently approaching a key support 1.27252. This is a key daily level, but instead of buying this pair, we’re waiting for a clear breakout below it to pick a short position. We’re recommending a sell against the backdrop that this pair is still in an active sell situation. Trade Recommendation: Sell a clear breakout below 1.27252.

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