Bullish momentum developing | 27 اكتوبر 2016
27 اكتوبر 2016, GBP/USD
Wave Analysis
The cable could not sustain the break below the lower trend line forming bottom of the rising channel. Instead, the pair traded long and ended up with the channel. During this intraday, we expect a possible bullish price movements towards the upper trend line or even higher. The current chart set up is pretty much bullish and selling this pair could be disastrous in the long, thus, we're only keen on buy signals. Expect a similar wave count in EUR/USD. These pairs will have a similar price action during this intraday.
Trade Recommendations:
Remain long with an ideal target at $1.2394.
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.
