Buyers are at 1.3662 | 08 March 2018

08 March 2018, GBP/USD

Buyers are at 1.3662

Wave Analysis:

The cable continues to pullback to the upper side but could come crashing down anytime. From the previous day's forecasts, we're still waiting for a rebound from the daily support set at 1.3662 to pick a long position with an ultimate target at 1.4618. As long as the price remains above 1.3662, this level remains to be the best place to buy this pair, otherwise, should the price break below, then we're be waiting for a bearish dominance confirmation to short the cable with an ideal target at 1.3135. This pair should be traded alongside GBPHKD, GBPSGD and GBPMXN. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendation:

Buy cable at 1.3662 with your take profit 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