We're long towards 1.3929 | 10 اكتوبر 2017

Wave Analysis:

Last week, the corrective wave (4) extended massively to the lower side but could not go below the lower supportive trend line, we expect this trend line to have marked the end of this correction, that the current bullish rally is the unfolding of the impulsive wave (5) to the upper side but should not go beyond 1.39295 where we'll be looking for a possible rebound. According to this weekly chart, only a buy position can be recommended. A short position can only be reconsidered in case the price breaks below the lower supportive trend line. Expect a similar wave count in GBPHKD and GBPAUD.

Trade Recommendations:

We're long towards 1.3929