Forextuitions

Next Level of GBP/USD with Daily Outlook

Short
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD: 4 Hour cycle is bullish against 10/7/2016 low (1.195) low while the 1-hour cycle is bearish against the 4/17/2018 high (1.4377). Rally to 1.3474 ended correction to cycle from 4/17 high. Near-term cycle from 7/09 high is expected to complete soon then pair is expected to do a bounce in 3, 7 or 11 swings before further downside is seen provided the pivot from 7/09 peak (1.336) stays intact. we don't prefer to buying here, we can see a bounce from 1.2750/1.2700 towards 1.3000.

Sell GBPUSD

@1.2845/75

Target: 1.2750
Stop Loss: 1.2900

good luck !
Trade closed: target reached: target hit with 95 pips profit

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