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We're long towards 1.4365

22 December 2017, GBP/USD

We're long towards 1.4365

Wave Analysis:

During the previous trading day, the cable opened at, 1.3375, went as high as 1.3386 and as low as 1.3330 but ended up closing at 1.3384, just 9 pips above it's opening price. This is a possible bulls domination indication. As long as we're above yesterday's opening price,. we expect a possible bullish price movements towards 1.4365 and even higher. Ideally, we expect a possible higher high formation around 1.3380 to confirm a possible bullish rally towards 1.4365. This pair should be traded alongside GBPMXN, GBPAUD, GBPCHF and GBPHKD. These pairs have a strong positive correlation of up to +72% and will move in the same direction during this intraday.

Trade Recommendations:

Expect a possible bullish price rally towards 1.4365

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Graham Osano
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