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Wait for corrections to the lower side to buy the cable

Wait for corrections to the lower side to buy the cable | 20 September 2017

20 September 2017, GBP/USD

Wait for corrections to the lower side to buy the cable

Wave Analysis:

During the previous trading day, we witnessed a possible bearish correction of both the impulsive waves (E) and (v). This is perfectly in line with the previous day's forecast, thus, even today, we still expect further bearish corrections to the lower side but should not go beyond 1.3375 where we'll be looking for a possible low risk buy trade. According to both the daily and the monthly charts, this pair is still pretty much bullish and therefore long positions are likely to show up during this intraday. Trade this pair alongside EURUSD, NZDUSD, AUDUSD and GBPNZD. These pairs have a strong positive correlation and will move in the same direction.
Trade Recommendations|:
Wait for corrections to the lower side to buy the cable

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Bob Stan
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