Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

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Konstantin Boykachev

CEO Proforexea LLC

Honest Coder

Professional Trader

Blog Post

GBP/USD analysis for October 17, 2018

October 17, 2018 Analytics

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Recently, the GBP/USD pair has been trading downwards. The price tested the level of 1.3124. According to the H1 time – frame, I found the breakout of the bearish flag and end of the upward correction (abc flat), which is a sign that sellers are in control. I also found that wave C didn’t break the high at 1.3256, which is another sign of weakness. My advice is to watch for opening sell deals with the take profit levels at 1.3086 and at the price of 1.3035.

The material has been provided by InstaForex Company – www.instaforex.com

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