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We're long

We're long | 06 September 2017

06 September 2017, GBP/USD

We're long

Wave Analysis:

After two bullish pin bars on the weekly charts, all bouncing from the lower supportive trend line, the cable has been in a constant up trend, and could rise even further during this intraday. During this intraday, we expect a possible bullish price movements towards 1.3275. The anticipated bullish price rally is the continuation of the impulsive wave (v) to the upper side and may break above 1.3225; if this level is broken, the then price could rise even further. This view can only be invalidated in case the pair breakout below the lower trend line, if this should happen, then an impulsive wave towards 1.2683 will be the next big move. This pair will have a similar price rally with EURUSD and AUDUSD.

Trade Recommendations:

Remain long with an ideal target at 1.3279.

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Bob Stan
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