Elliott waves analysis – We’re short from 1.30

GBPUSD – Flat

Wave Analysis

During the previous trading day, the impulsive wave (c) stretched slightly lower than expected and even went below the weekly support level 1.30. This was significant move and as long as the price remains below this level, we expect a possible momentum to the lower side with the next ideal target at 1.27. If you’re not already in a short position, you can still wait for a correction to the just broken to pick a low risk short position with your first take profit at 1.2725 and the next ideal take profit at 1.196210.

Trade Recommendations:

We’re short from 1.30

101% Double the volume

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