GBP/USD Current price: 1.2447
Recently, Cable has been trading upwards when last USD interest rate release we saw a positive move then the next day MPC Official Bank Rate Votes data that shows a 1-0-8 its mean 1 of them wants to increase interest rate and respectively cable test 1.26 Level. So Today I share bearish trade setup with you and keep this in your mind today Uk president trigger the article 50 and she sent a letter to European union council so might again we saw a big drop in the cable.And my signal is not 100% perfect so always use stop loss that I share with you. I recommend you take 1.5% risks per trade.
Use Elliott theory on H4 chart. It's completed an upward Elliot wave and now in correction after completed wave C, then we focus on new downward Elliot wave.