We're long | 19 May 2017
19 May 2017, GBP/USD
Wave Analysis:
The cable is currently trading with an increasing bullish bias. Following break above 1.2770, we expect further momentum to the upperside, thus, as long as the pair remains above 1.2770, we expect a possible bullish price rally towards 1.3101 or even higher. We expect the current upward rally to be the continuation of the impulsive wave (5) and may break above 1.3101 towards 1.3275. Expect a similar wave count in GBPCAD, GBPCHF and GBPNZD, These pairs have a strong positive correlation of up to +89% and will move in the same direction during this intraday,Expect a possible bullish price movements with an ideal target 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.
