manager photo
Online Assistant
We will be pleased to answer any questions you may have
Write Call
Close
Log in

We are long

16 September 2016, GBP/USD

We are long

Wave Analysis

Yesterday, the corrective wave (b) rebounded perfectly along the supportive trend line as previously forecasted. We expect the current upward rally to be the unfolding of the impulsive wave (c) but should not go beyond the resistance level 1.4111. A clear breakout above this target may push the price further to the upper side with an ultimate target at 1.4667. Although an upward rally is highly anticipated, we cannot rule out a possibility of retracing to the lower side and even breaking below the immediate supportive trend line. Expect a similar price action in AUD/USD, GBP/HKD and NZD/USD.

Trade Recommendations:

Remain long with an ideal target at 1.4111

Graham Osano
See also:
Agree with the review?
Traders' opinion:

We are constantly improving our website quality. If you have any suggestions on how to make our website better or noticed an error on the website, please tell us

Tell us

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 .