Look for long positions towards 1.49540 | 17 April 2018
17 April 2018, GBP/USD
Wave Analysis
Despite the Friday's daily candle closing as bearish pin bar around 1.42801, the cable rallied higher and even closed above a the level 1.42801, this is a clear bulls dominance signal and as long as the price remains above 1.42801, we expect a possible rally to the upper side and should break above 1.49540. This view can only be invalidated in case the price breaks below 1.42801, this being the case, we'll expect a possible bearish price rally with an ultimate target at at 1.365. On the daily chart attached, its good to look for long positions.
Trade Recommendations:
Look for long positions towards 1.49540
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.
