GBPUSD counter trend to push through 1.3300/10
GBPUSD has taken out previous lower degree Wave 4 around 1.3050 today. The currency might have completed its impulse drop between 1.3482 and 1.3040/50 levels respectively. High probability remains for a counter trend rally to push towards 1.3300/10 from here. Also note that fibonacci 0.618 retracement of the above drop is seen through 1.3300/10 and hence probabilities remain high for a bearish bounce if prices manage to reach there. Good to sell on rallies from here.
Remain short, stop above 1.3500, target is open.
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Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
Remain short, stop above 1.3500, target is open.
Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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