We're long | 31 Juli 2018
31 Juli 2018, GBP/USD
Wave Analysis:
After the two bullish pin bars seen two weeks ago, the cable has now embarked on an upward acceleration. There's a weekly support seen at 1.30706, as long as the price remains above this level, we expect a possible rally to the upperside. We expect the rebound from it to have marked an end to the corrective three wave cycle, that the current rally to the upperside is the unfolding of an impulsive wave cycle and should first break beyond 1.35300 before a move further to the upper side is seen.
Trade Recommendations:
We're long
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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.
