Elliott waves analysis – We’ll still be looking for a sell from 1.30578

GBPUSD – Flat

Wave Analysis

Nothing much happening on this pair. We still; expect a possible rise towards 1.30578 to pick a long term short position with an ultimate target at 1.24650. The anticipated bullish price rally is the continuation of the corrective wave (iv) to the upper side and should rebound from the weekly resistance level 1.30576. If this is the case, then, we’ll be looking to sell the last impulsive wave (v) to the lower side with our first target at 1.23320, and the next target at 1.20695. However, in case of a break above 1.30578, then we’ll expect a rally upwards.

Trade Recommendations:

We’ll still be looking for a sell from 1.30578

101% Double the volume

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