Wave Analysis:
During the previous trading day, we saw an extension of the impulsive wave (1) as previously forecasted. Today, we expect a possible bullish price rally towards 1.3477 or even higher. If you’re a bit skeptic to buy this pair now, you could wait and buy the impulsive wave (3) with your target at 1.4198. If the price violates the daily resistance line 1.3477, then its good to wait for a pullback to the just broken line to buy this pair with your target as set before, 1.4198. This pair should be traded alongside GBPAUD, EURUSD, NZDUSD, GBPCHF and GBPNZD. 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 target at 1.4198.
Origin: FreshForex
