GBP/USD Forecast: long with the first target at 1.3420

usd_gbp_news_2Wave Analysis:

Perfectly as previously forecasted, the impulsive wave (1) stretched slightly to the upper side, following the lower higher formation seen at 1.3057. As long as the price remains above 1.3057, we expect a possible extension of the impulsive wave (1) to the upper side and may break above 1.3420. If this is the case, then further rise to the upper side is expected with ultimate target at 1.4109. If you’re not long already, you could wait for a break above 1.3420, then but the impulsive wave (3) with a target at 1.4109. This pair should be traded alongside GBPAUD, GBPNZD and EURUSD. These pairs have a strong postive correlation and will move in the same direction.

Trade Recommendations:

We’re long with the first target at 1.3420 and the next target at 1.4109

Bulls still dominating

Origin: FreshForex

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