Elliott waves analysis – We’re short towards 1.2725

GBPUSD – Flat

We're short towards 1.2725

Wave Analysis

During the previous trading day, the impulsive wave (c) extended slightly to the lowerside, and is still pretty much bearish both on the daily and the weekly charts. If you went short with us previously, its good to remain short with this position with an ultimate target at 1.2725. This is not to say that the line 1.2725 is none-breakable, but if the price can clearly go below it, then we expect the impulsive wave (c) t stretch further to the lower side with the next ideal target at 1.1925. At the moment, only a sell position looks ideal and can be recommended.

Trade Recommendations:

We’re short towards 1.2725

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