08 Septiembre 2017, GBP/USD
Wave Analysis
Perfectly as this week's forecasts have stated, the impulsive wave (v) has extended to the upper side almost 200 pips and will likely continue to the upper side. We expect this upward rally to be the continuation of the impulsive wave (v) towards 1.3275 and may break above with the next ideal target at 1.33. According to the current chart set up and structure, this pair is very bullish and therefore, selling, or holding onto a short position in this pair may not be the best choice, we're only interested in long position. Trade this pair alongside USDJPY, CHFJPY and USDCHF. These pairs have strong negative correlation to the cable and will move in exact opposite price action.
Trade Recommendations:
We're still long with you target set at 1.3275.
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