GBP/USD Forecast: expect nothing but a possible momentum to the lower side

gbp-l3Wave Analysis

After breaking below the level 1.21060, the cable continued to the lowerside before pulling back to the same zone. As long as the price remains below the level 1.21068, we expect nothing but a possible momentum to the lowerside, the anticipated bearish price rally is the continuation of the impulsive wave (v) and should break below 1.20040. We expect the current move to the upperside to be the unfolding of a correction to the upperside but should not go beyond 1.21068 where we’ll be looking for a long term sell.

Trade Recommendations:

Resell the cable from 1.21068

Origin: FreshForex

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