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As long as the pair sustains the break above the upper trendline, expect a possible momentum towards 1.2725

As long as the pair sustains the break above the upper trendline, expect a possible momentum towards 1.2725 | 13 April 2017

13 April 2017, GBP/USD

As long as the pair sustains the break above the upper trendline, expect a possible momentum towards 1.2725

Wave Analysis

The cable continues to rally on the upper side and is currently rallying above a key resistive trend line. As long as this pair sustains the break above this trend line, we expect a possible bullish price rally towards 1.2725. A break above 1.2725 will mean waiting for minor pullbacks to the just broken line to pick further buy orders at low risk. This view can only be invalidated in case the pair end up below 1.24078 and most importantly if the price can rebound from 1.2725, should this be the case, then we expect an acceleration to the lower side. This pair should be traded alongside USDCHF, USDJPY. These pairs will have exact opposite price action during this intraday.

Trade Recommendations:

Expect a possible bullish momentum towards 1.2725.

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Bob Stan
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