GBPUSD – Flat
Wave Analysis
The previous day only, the cable pulled back massively to the upper side and is now at a weekly resistance level 1.30403. As long as this level protects the upper side, we’re clearly waiting for a clear rebound from this level to pick a long term short position with an ultimate target at 1.19170. If you’re not short already, you can wait for a false breakout above this level to pick a long term short position towards 1.26. This view can only be invalidated in case the price breaks above 1.30401, if this is the case, then an impulsive wave count further upwards is expected.
Trade Recommendations:
we’re looking for a short position now
101% Double the volume
You may check other analytical reviews on FreshForex website. Source: freshforex.com.