23 June 2016, GBP/USD
GBP/USD is currently trading with a bullish bias. Yesterday, just as in Euro, instead of going short, the cable broke above 1.4691 headed long and is still pretty much bullish. We expect the current downward rally to be a mere retracement and should not go beyond 1.4694. Thus, during this intraday, we expect an acceleration to the upper side and may break above 1.4932. This pair should be traded alongside GBP/JPY, GBP/CHF, EUR/USD, and AUD/USD. These pairs have a similar price action and will have a similar price action during this intraday.
Wait for the current downward retracement to end around 1.4555 or even lower to 1.4694 then go long with your ideal target at 1.4932.
Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us