Elliott waves analysis – Sell the cable below 1.33516

GBPUSD – Flat

Sell the cable below 1.33516

Wave Analysis

Just as in the euro, the cable corrected itself slightly to the upper side but is still within our sellers territory. If you’re went earlier this week, then its good to remain short in this pair, however, if not, then wait for a break below 1.33516 to confirm a possible rally to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave c to the lower side and may break below 1.26974 towards 1.21477 or even lower. At the moment, its good to wait for break below 1.33516 to confirm a rally to the lower side. You may also pick a long position upon a rebound from 1.33516.

Trade Recommendations:

Sell the cable below 1.33516

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