Bulls in control | 22 May 2017
22 May 2017, GBP/USD
Wave Analysis:
During the previous trading day on Friday May 19th 2017, the cable broke above the range 1.2884-1.1.2866 and is still rallying above it. As long as this zone is not broken to the lower side, we expect a possible bullish acceleration. The anticipated upward rally is the continuation of the impulsive wave (5) towards 1.3429 and may break higher. Expect a similar wave count EURUSD,AUDUSD, GBPCHF and GBPAUD. These pairs have a strong positive correlation of up to +89% and will move in the same direction during this intraday.
Trade Recommendation
Expet a possible bullish price movements towards 1.3429
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.
