GBP/USD Forecast: price is above the level 1.2724

gbp_cfdWave Analysis

Nothing much has changed on this pair, the cable is still rallying abound 1.2863. While the price is above the level 1.2724, we’re within our sellers territory, but in case the current week’s candle close below 1.2724, then We recommend looking for a long term short position towards 1.2156. While we’re above 1.2724, we’re looking for possible confirmations a that the price will extend upwards towards the next level 1.3165. On its way upwards the possible levels to look for include 1.2910 and 1.3100. Overally, we expect a close below 1.2724 so that we continue with the impulsive wave c to the lowerside.

Trade Recommendations:

wait

Sell The cable now, and have your stoploss above last week's highest high, and take profit at 1.2156.

Origin: FreshForex

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