We're long | 25 May 2017
25 May 2017, GBP/USD
Wave Analysis:
The cable continues to consolidate in an upward manner despite our expectations to spike higher. As long as the support level 1.2770 remains intact, we expect an acceleration to the upper side towards 1.33. The anticipated upward rally is the continuation of the impulsive wave (c) towards 1.3275 and may extend higher to 1.33. Expect a similar wave count in EURUSD, AUDUSD and GBPCAD. These pairs have a strong positive correlation and will move in the same direction during this intraday.Expect a possible bullish wave count towards 1.3275
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.
