GBP/USD Forecast: bearish price rally is the continuation of the impulsive cycle

gbp_news_cmc_forex_1Wave Analysis

During the previous trading day, the cable lost value considerable and is still showing signs of loosing even further. Following the ascend below 1.3135, we expect further spike to the lower side with an ultimate target at 1.25. The anticipated bearish price rally is the continuation of the impulsive five wave cycle and should break below 1.3005. If this should be the case, then we’ll expect the impulsive wave v to continue to the lowerside with an ultimate target at 1.27335. At the moment, we are only short.

Trade Recommendations:

We’re short

We're short

Origin: FreshForex

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