GBPUSD reversed just 20 pips shy of the 1.3500 mark. High probability remains that it has completed 5 waves rally from 1.1414 through 1.3482 levels. If the count is correct, we should witness a similar degree corrective wave materialize towards 1.2100/1.2200 in the next few weeks. Immediate support is seen towards 1.3050 and a break there would confirm bears are in control and the corrective drop is on its way forward. Good to sell on rallied from here.
Remain short, stop @ 1.3600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop @ 1.3600, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.