Elliott waves analysis – we’re short from 1.30578

GBPUSD – Flat

Wave Analysis

During the previous trading day, the cable recovered sligjhtly to the upperside but is still bullish on the weekly charts. As long as the price remains above this week’s highest high, we expect a possible momentum to the upperside. The expected bullish price rally is the continuation of the corrective wave (iv) to the upperside and should not go beyond 1.30528. If you’re skeptic to pick this upward position, you could wait and sell this pair upon a rebound from this level. The anticipated short position is the continuation of the impulsive wave (v) toward 1.24650.

Trade Recommendations:

we’re short from 1.30578

101% Double the volume

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