Still bullish but should be capped by 1.2556 | 27 Marzo 2017

27 Marzo 2017, GBP/USD

Still bullish but should be capped by 1.2556
Wave Analysis:
For almost two weeks now, the cable has been in an overall upward rally but is currently approaching a key daily resistance line at 1.2556. Following the break above 1.2482, we're waiting for a clear rebound from this level to continue long with the impulsive wave (5) but should not go beyond 1.2556 from where we expect to be an onset of a corrective three wave cycle. While we'll be looking to sell this pair, we'll equally be looking to buy USDCHF, USDJPY and CADJPY. These pairs have a strong negative correlation to the cable and will move in exact opposite price action during this intraday.

Trade Recommendations:

Wait for a clear buy signal to go long with an ideal target at 1.2556. A break above this level will push the price further to the upper side but should not go beyond 1.2725. A clear rebound from 1.2556 will call for short positions with an ideal target at 1.2357.

FreshForex cancels commissions!

Bob Stan
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.
manager photo manager photo
Online-support
Nos complacerá contestar cualquier pregunta que pueda tener

Escribir

Get bonus