Buy the cable upon a rebound from 1.3662 | 05 March 2018

05 March 2018, GBP/USD

Buy the cable upon a rebound from 1.3662

Wave Analysis:
Despite the previous day's forecast, the cable is gradually pulling back to the upperside instead of reaching our support seen at 1.3662-1.3612. We still expect further drop in price although we're seeing a scenario where buyers could push the price upwards towards 1.38, before seller can gain control to push the price to our support level 1.3662-1.3612. According to the current chart set and structure, we choose to remain on the sidelines, our buyers are at 1.3662, therefore, unless the price is clearly at this zone, we're still on the sidelines. This pair should be traded alongside GBPHKD, GBPCHF, and GBPSGD.
Trade Recommendations:
Buy the cable upon a rebound from 1.3662 with your target at 1.4618

FreshForex cancels commissions!

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus