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Waiting for a clear buy opportunity.

Waiting for a clear buy opportunity. | 05 December 2017

05 December 2017, GBP/USD

Waiting for a clear buy opportunity.

Wave Analysis:

So far, no significant move to either directions has been seen. We still expect further consolidations before we eventually see a clear buy indications. Our expectations is that the impulsive wave (1) should continue to rise and should breakout above 1.3477, conservative traders who are reluctant to buy this pair now, should wait for a break above 1.3477, then a pullback to the lower side to buy the impulsive wave (3) towards 1.4165. While we'll be looking to buy this pair, we'll also consider buying other pairs such as GBPAUD, GBPCHF, and GBPNZD. These pairs have a strong positive correlation and will move in the same direction during this intraday.

Trade Recommendations:

Waiting for a clear buy opportunity.

FreshForex cancels commissions!

Bob Stan
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