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GBPUSD could sustain the break above 1.2741

GBPUSD could sustain the break above 1.2741 | 24 April 2017

24 April 2017, GBP/USD

GBPUSD could sustain the break above 1.2741
Wave Analysis:

During the previous trading week ending 21st April, the cable entered into a contracting triangle and is still consolidating within it. We're waiting for a clear break above this triangular formation to confirm a possible impulsive wave count towards 1.3275 or even higher. This upward rally is highly anticipated since GBPCHF (chart shown below) has a similar triangular formation and will likely head to the upper side. A clear break above this triangle will call for long positions on both pairs.

GBPCHF 4Hour Chart

GBPUSD could sustain the break above 1.2741

Trade Recommendations:

Expect a possible break above this triangle to go long with an ideal target at 1.3275.

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