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

gbp_cfd_1Wave Analysis

So far, nothing much is happening on this pair. The cable is still above the supportive level 1.2768. And as we mentioned during the previous forecasts, as long as the price is contained above this level, we’re focasing on a long term buy. And on the flip side, should the price descend below the same level, then this will be a ideal place to look for a long term short position. The anticipated bearish price rally is the continuation of the impulsive wave (c) and should break below 1.23330 towards 1.2100.

Trade Recommendations:

Only sell a break below 1.2768 with your take profit at 1.2100.

Origin: FreshForex

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