We're still long with an ultimate target at 1.41 | 28 Noviembre 2017

Wave Analysis:

During the previous trading day, we say a slight correction of the impulsive wave (1) to the lower side but this pair is still pretty much bullish. Since this pair got supported at the daily support level 1.2535, this pair has been making higher lows as shown on the daily chart above, and could continue to make higher low during the coming months. Today, we expect further bearish correction to the lower side but should not go beyond 1.3061 where we'll be looking to re-buy the impulsive wave (1), and the outter larger wave (E) with an ultimate target at 1.4198. This pair should be traded alongside GBPAUD, GBPNZD, GBPCHF and GBPHKD. These pairs have a strong positive correlation and will move in the same direction today.

Trade Recommendations:

We're still long with an ultimate target at 1.41