GBP/USD Forecast: long with the first target at 1.3477

gbp_news_cmc_forex_1Wave Analysis:

Still no active momentum in this pair. During the previous trading day, we expected possible extension of the impulsive wave (1) to the upper side, but as it appears, the cable could continue to stall before continuing upwards as expected. Ideally, we expect a break above 1.3477 to continue long with the impulsive wave (3) to the upper side but should not go beyond 1.4091 or even higher. This pair should be traded alongside GBPAUD, NZDUSD, GBPNZD and EURUSD. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendations:

we’re long with the first target at 1.3477 and the next at 1.4091

We're long

Origin: FreshForex

Leave a Reply