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Expect a possible bullish price rally towards 1.33

Expect a possible bullish price rally towards 1.33 | 06 June 2017

06 June 2017, GBP/USD

Expect a possible bullish price rally towards 1.33
Wave Analysis:
On 26th may 2017, the cable broke below the rising wedge, went as low as 1.2777 but could not go beyond 1.2720. As long as the zone 1.2720-1.2769 protects any invasion to the lower side, we expect a possible bullish price movements towards 1.33. In the meantime, we're waiting for a clear breakout above the bottom if the rising wedge and most importantly a breakout above 1.3034 to confirm the continuation of this bullish price movements towards 1.33. Expect a similar wave count in EURUSD, GBPCAD, AUDUSD and NZDUSD. These pairs have a strong positive correlation of up to +66% and will move in the same direction during this intraday.
Trade Recommendations:

Expect a possible bullish price movements towards 1.33.

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Bob Stan
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