GBPUSD Elliot Waves Analysis For 25 March 2016 | 25 مارس 2016
25 مارس 2016, GBP/USD
Wave Analysis: GBP/USD is currently trading trading with a bullish bias. During the previous trading day, pound rebounded from 1.4060, headed long but could not close clearly above 1.4177. We are waiting for a clear close above this level to go long with our target at 1.4289. A clear breakout below 1.4060 will mean looking for short positions with our target at 1.3832. Pound should be traded alongside EUR/USD. These pairs have a strong positive correlation of up to +0.89 and will likely have a similar price action during this intraday. Only buy or sell Pound if Euro is giving the same signal.
Trade Recommendations:
Wait for a clear close above the level 1.4177 to go long with your target at 1.4289. A clear breakout below 1.4060 will mean looking for short positions with our target at 1.3832.
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.
