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GBPUSD Elliot Waves Analysis For 14 March 2016

GBPUSD Elliot Waves Analysis For 14 March 2016 | 14 March 2016

14 March 2016, GBP/USD

GBPUSD Elliot Waves Analysis For 14 March 2016
Wave Analysis:
GBP/USD is currently trading with a bullish bias. During the previous trading day, pound traded perfectly long with wave [5] ending within the zone 1.4375-1.4415 as previously forecasted. During this intraday, we sit on the sideline and only buy above 1.4415 with our ideal target at 1.4510. Sell orders are only ideal in case the price breaks below 1.4330. This pair should be traded alongside AUD/USD and CHF/ZAR. These pairs have a strong positive correlation of up to +0.89 and will likely move in the same direction during this intraday. Only buy or sell pound if the other pair are giving the same signal.

Trade Recommendations.

Conservative traders should sit on the sideline and only buy above 1.4415 with their ideal target at 1.4510. Sell orders are only ideal in case the price breaks below 1.4330.

Bob Stan
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