GBP/USD Forecast: expect a possible bounce from either levels

forex_news_gbp_7Wave Analysis

The cable is currently rallying within a range, not going above 1.23808 or below 1.23123. As long as the price remains within this range, we expect a possible bounce from either levels to pick a low risk trade. As it is on the hourly chart, we are expecting a rise towards 1.23808, then an anticipated bullish price rally is the continuation of the impulsive wave (5) and should breakout above 1.23808 towards 1.245 or even higher. And on the flip side, should price break below 1.23123, then this will push the price to the lowerside.

Trade Recommendations:

Buy the cable towards 1.23808 or upon a break above 1.23808.

Buy the cable towards 1.23808 or upon a break above 1.23808.

Origin: FreshForex

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