Wave Analysis:
For the past few months, this pair has been in an active up rise and is still showing signs of rising. During this intraday and in the coming weeks, we expect a possible extension of the impulsive wave (5) to the upper side and should breakout above 1.3872 or en higher.Ideally, as long as the price remains above 1.3516, we expect a possible bullish price movements . This view can only be invalidated in case the price end up below 1.3516, if this is case, then we expect a possible bearish price movements towards 1.3073. This pair should be traded alongside GBPAUD, GBPCHF, GBPHKD, GBPSGD and GBPNZD. These pairs have a strong positive correlation of up to +76% and will move in the sane direction today. Only buy or sell the cable in case the other positively correlated pairs are giving the same signal.
Trade Recommendations:
Remain long with your target at 1.3872
Origin: FreshForex
