GBP/USD Forecast: long as the price is below this zone

a-4Wave Analysis

Yesterday, our take profit was hit when the price successfully closed below the zone 1.30081-1.30046. As long as the price is below this zone, we’re looking for low risk sell orders. The idea is to wait for a retracement towards 1.30081 to pick a low risk sell order. Conservative traders can place a pending sell limit order around 1.30081 with your take profit around 1.29. This view can only be invalidated in case the price breaks and closes above 1.30081, if this is true, then a move higher is expected.

Trade Recommendations:

Sell the cable from 1.30081 towards 1.29.

Sell the cable from 1.30081 towards 1.29.

Origin: FreshForex

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