GBPUSD – Flat
During the previous trading day, the impulsive wave (c) traded intensely to the lowerside and is still pretty much bearish. Today and in the next few days, we expect a possible extension of the impulsive wave (c) to the lowerside and may break below 1.28900 but should not go beyond 1.21712. If you’re not short already, you could wait for a correction towards 1.33058 to pick a low risk short position. However, this notwithstanding, should the price get above 1.33058, then this could be an ideal spot to pick a long position.
We’re short towards 1.21712
101% Double the volume
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