GBP/USD Forecast: expect an acceleration to the lower side

gbp_cfd_1Wave Analysis

Currently, the cable is forming a pin bar candle on the weekly chart. If the weekly candle can close perfectly as it is now, then we expect a rally to the upper side this coming week,. However, while the price is below 1.32965, we’ll only be long up to this level. Any a clear rise above 1.32955 will culminate into further momentum upwards with the next ideal target at 1.42905. But, should the price rebound from 1.32955, then we expect an acceleration to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) and may break below 1.27252.

Trade Recommendations:

Expect a rise towards 1.32955.

Expect a rise towards 1.32955.

Origin: FreshForex

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