GBPUSD could sustain the break above 1.2741 | 24 April 2017
24 April 2017, GBP/USD
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
Trade Recommendations:
Expect a possible break above this triangle to go long with an ideal target at 1.3275.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
