GBP/USD Forecast: expect this bounce to make an end to the corrective wave

com-l4Wave Analysis

Following the bounce from 1.28450, the cable continues on its way to the upper side. We expect this bounce to make an end to the corrective wave (4), that the current bullish price rally is the continuation of the impulsive wave (5) and should break above 1.33342 towards 1.42450. This view can only be invalidated in case the price again break below 1.28450, if this is the case, then we expect a possible plunge towards 1.24450. On its way to the lower side, the next key level to look for is 1.26450.

Trade Recommendations:

Remain long with your take profit at 1.33342.

Origin: FreshForex

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