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Still long

Still long | 13 October 2017

13 October 2017, GBP/USD

Still long

Wave Analysis:

The cable continues to rise as previously anticipated but is yet to hit our target. At the moment, the cable is slightly below a key weekly resistance level 1.33054, and as long as this level protects the upper side, a possible rebound from this level is expected, if this level (1.33054) is broken then the price could rise even higher towards 1.37240. The anticipated upward movements is the continuation of the impulsive wave (5) to the upper side but must no go beyond 1.40 by the end of this week. This pair will have a similar price action to EURUSD and NZDUSD.

Trade Recommendations:

We're still long towards 1.40

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Bob Stan
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