Flat temporarily. | 02 Mei 2018

02 Mei 2018, GBP/USD

Flat temporarily.

Wave Analysis

The cable traded massively to the lower side and is currently approaching a key daily support level 1.35899. Our take profit was taken out, now, we're waiting for either a rebound from 1.35899 to pick a long position, or a break below 1.35899 to pick a short position with an ultimate target at 1.30440. If there's a break below 1.35899, then this will be the continuation of the impulsive wave (c) to the lower side, while if the price rebound from 1.35899, then I'll consider a long position with an ultimate target at 1.43750.

Trade Recommendations:

Flat temporarily.

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Bob Stan
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