Wave Analysis:
During the previous trading day, the impulsive wave (5) extended massively to the upper side and is still pretty much bullish both on the daily and the weekly chart. Today and in the next few days, we’re expect a possible correction of the impulsive wave (5) to the lower side, and then an extension to the upper side The anticipated bullish price rally is the continuation of the impulsive wave (5) to the upper side and should not go beyond 1.45. This pair should be traded alongside GBPHKD, GBPSGD, GBPMXN and EURUSD. These pairs may have a similar price action today.
Trade Recommendations:
Expect a momentum to the upper side.
Origin: FreshForex
