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We're long towards 1.3836

We're long towards 1.3836 | 25 July 2018

25 July 2018, GBP/USD

Wave Analysis

After the previous week's bullish pin bar, the cable rallied slightly to the upperside and is still pretty much bullish both on the daily and the weekly charts . We expect the rebound from 1.30706 to have marked an end to the corrective three wave cycle, that the current bullish price rally is the unfolding of another impulsive wave count and should break above 1.38360, but should not go beyond 1.42905. Conservative traders should wait and rebuy the cable around 1.3070 with your take profit at 1.3836.

Trade Recommendations:

We're long towards 1.3836

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Bob Stan
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