22 Agustus 2018, GBP/USD
Wave Analysis
During the previous trading day, the corrective wave (4) extended significantly to the upperside but is still below the 4 hour level 1.2972. As long as the price is below this level, we're waiting for a possible rebound from it to pick a short position. The anticipated bearish price rally should be the continuation of the last impulsive wave (5) to the lowerside and should first break below 1.2655 before further move to the lowerside is seen. This view can only be invalidated in case the price breaks above 1.2977.
Trade Recommendatioons:
we're short from 1.2977
101% Double the volume