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The Cable still to gain ground against the US Dollar

09 November 2016, GBP/USD

The Cable still to gain ground against the US Dollar

Wave Analysis:
The Cable continues to rise alongside Euro even as the Crude oil and US Dollar crush below its recent support levels. Should Trump be declared the US President by the end of the US elections, we expect the the cable to continue gaining grounds against the Dollar. A win to Trump means well to the cable while its hurting to the US Dollar. From the latest US Elections outcome, the cable should continue rise as long as the Trump is in Control. That is, we expect an impulsive wave count towards 1.2701 or even higher. Expect a similar wave count in Euro and an exact opposite wave count in USD/CHF and USD/JPY.

Trade Recommendations:

As long as Trump remains in Control, expect a possible bullish wave counts towards $1.2701

Graham Osano
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