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Buy the cable above 1.3477

Buy the cable above 1.3477 | 01 December 2017

01 December 2017, GBP/USD

Buy the cable above 1.3477

Wave Analysis:

During the previous trading day, the impulsive wave (1) rallied perfectly to the upper side as expected and is still pretty much bullish. During this intraday, we expect further growth to the upper side and even a break above 1.3477 to continue long. If you're not long already, you could wait for a break above 1.3477 to buy the impulsive wave (3) with your target at 1.4365 and the last target at 1.4880. This pair should be traded alongside GBPAUD, GBPCHF, GBPHKD and EURUSD. These pairs have a strong positive correlation of up to +72% and will move in the same direction during this intraday. Only buy or sell Gbpusd if the other positively correlated pairs are giving the same signal.

Trade Recommendations:

Buy the cable above 1.3477 with your target at 1.4365

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Bob Stan
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