GBPUSD – Flat
Wave Analysis:
Just as in the euro, the cable is yet to make any significant move to the upperside. We expect the downward rally that was seen the previous trading day to be a continuation phase of the impulsive wave (c) but should not go beyond 1.27252. If you’re not already in a short position, you could still look for short positions now, or after a pullback to the upper side. Alternatively, you could wait for a clear break below 1.30708 to confirm further bearish momentum towards 1.27252.
Trade Recommendations:
Sell the cable below 1.30708
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You may check other analytical reviews on FreshForex website. Source: freshforex.com.