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Bulls in control

Bulls in control | 22 May 2017

22 May 2017, GBP/USD

Bulls in control

Wave Analysis:

During the previous trading day on Friday May 19th 2017, the cable broke above the range 1.2884-1.1.2866 and is still rallying above it. As long as this zone is not broken to the lower side, we expect a possible bullish acceleration. The anticipated upward rally is the continuation of the impulsive wave (5) towards 1.3429 and may break higher. Expect a similar wave count EURUSD,AUDUSD, GBPCHF and GBPAUD. These pairs have a strong positive correlation of up to +89% and will move in the same direction during this intraday.
Trade Recommendation
Expet a possible bullish price movements towards 1.3429

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Bob Stan
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