We're long towards 1.3836 | 25 Juli 2018
25 Juli 2018, GBP/USD
Wave Analysis
After the previous week's bullish pin bar, the cable rallied slightly to the upperside and is still pretty much bullish both on the daily and the weekly charts . We expect the rebound from 1.30706 to have marked an end to the corrective three wave cycle, that the current bullish price rally is the unfolding of another impulsive wave count and should break above 1.38360, but should not go beyond 1.42905. Conservative traders should wait and rebuy the cable around 1.3070 with your take profit at 1.3836.
Trade Recommendations:
We're long towards 1.3836
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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.
