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 !
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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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.