Elliott waves analysis – Still within the sellers teritory

GBPUSD – Flat

Wave Analysis

After the bullish pin bars seen for two weeks in a raw, the cable is still yet to show any clear moves to the upper side. As we forecasted previously, as long as the price remains below 1.32965, we expect a possible bearish rally towards 1.27252. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and may breakout below 1.27252 but should not go beyond 1.20000. This view can only be invalidated in case the price breaks above 1.32965, if this is the case, then we’re upwards.

Trade Recommendations:

Still within the sellers teritory

101% Double the volume

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