We're long with an ideal target at 1.3305 | 08 Junio 2017
08 Junio 2017, GBP/USD
Wave Analysis:
During the previous trading day, the cable traded on the higher ranges and is still pretty much bullish on the daily and the weekly chart. During this intraday, we expect a possible extension of the impulsive wave (c) to the upper side towards the weekly resistance level 1.3305 from where we expect a possible turn around to short the cable. At the moment, the current chart set up and structure is pretty much bullish and selling this pair or holding onto a short position may not necessarily be the best choice. Expect a similar wave count in GBPCAD, GBPCHF, EURUSD and NZDUSD. These pairs have a strong positive correlation of up to +85% and will move in the same direction during this intraday.
Trade Recommendations:
Expect a possible bullish price movements towards 1.3305
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