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Look for long positions towards 1.49540

Look for long positions towards 1.49540 | 17 April 2018

17 April 2018, GBP/USD

Look for long positions towards 1.49540

Wave Analysis

Despite the Friday's daily candle closing as bearish pin bar around 1.42801, the cable rallied higher and even closed above a the level 1.42801, this is a clear bulls dominance signal and as long as the price remains above 1.42801, we expect a possible rally to the upper side and should break above 1.49540. This view can only be invalidated in case the price breaks below 1.42801, this being the case, we'll expect a possible bearish price rally with an ultimate target at at 1.365. On the daily chart attached, its good to look for long positions.

Trade Recommendations:

Look for long positions towards 1.49540

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Bob Stan
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