GBP/USD Forecast: expect the current bullish price rally to be a correction

gbp-l3Wave Analysis:

On the weekly chart attached, instead of rallying to the lower side as previously forecasted, the cable pulled back upwards and is still pretty much bullish both on the 4 hour and the daily charts. This pair is however very bearish on the weekly charts, therefore, we expect the current bullish price rally to be a correction and may continue towards 1.30867 and should not head any higher. The ideal here to look for a long position but with a take profit at 1.30867. A sell position can be recommended in case the price breaks below 1.29183.

Trade Recommendations

We’re Long

Origin: FreshForex

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