Expect a possible bullish price rally towards 1.3477 | 21 November 2017

21 November 2017, GBP/USD

Expect a possible  bullish price rally towards 1.3477

Wave Analysis:

Yesterday, we saw a slight extension of the impulsive wave (1) to the upper side but is still below our set target. Today, we expect a possible bullish price rally towards 1.3477 or even higher. The anticipated bullish price rally is the continuation of the recent five wave cycle, with an ultimate target at 1.1483. If you're a bit skeptic to long this pair now, you could wait for price to breakout above 1.3477, then buy the impulsive wave (3) with a target at 1.4198. As long as the price remains above 1.3063, only a buy position can be recommended. This pair should be traded alongside GBPAUD, NZDUSD, AUDUSD and GBPNZD. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendation:

Expect a possible bullish price rally towards 1.3477

FreshForex cancels commissions!

Bob Stan
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus