Wave Analysis:
For the past three conservative days, we saw an extension of the impulsive wave (1) to the upper side and we still in a bulls market. During this trading day, we’re still into long positions with our target at 1.3477, if the price should breakout above, then we’ll wait for the corrective wave (2) to clear up , then buy the impulsive wave (3) with an ultimate target at 1.4365. If you’re not long already, you could wait for a minor pullback, or a break above 1.3477, then buy towards 1.4365. So far, this pair has been making consecutive higher lows and chances of rising even higher are highly anticipated. This pair will have a similar wave count to GBPCHF and GBPAUD. These pairs will move in the same direction.
Trade Recommendations:
Expect a bullish acceleration towards 1.3477
Origin: FreshForex
