GBPUSD – Flat
Wave Analysis;
This pair is currently on a downtrend trading in a contracting wedge formation, during the previous trading days, the price rebounded from the impulsive wave cycle three towards the upper side at the corrective wave cycle four. Right now the price is around the upper side, I expect a bearish momentum towards 1.1590 in continuation of the impulsive wave cycle five. If you are looking at this pair now, pick a sell from 1.2054 towards 1.1590.
Trade Recommendations:
We are short.
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