GBPUSD Elliot Waves Analysis For 25 July 2016 | 25 Juli 2016
25 Juli 2016, GBP/USD
Wave Analysis
GBP/USD is currently trading with a bullish bias. Earlier today, the pair gapped up but is yet to reach out objective resistance level 1.3178. We expect to continue long with wave (c) but should not go beyond 1.3178 from where we'll be looking for a possible reversal to the lower side. This pair should be traded alongside AUD/USD, EUR/USD, NZD/USD, GBP/JPY, GBP/CHF and GBP/NZD. These pairs have a strong positive correlation of up to +0.89 and will have a similar price action during this intraday.
Trade Recommendations:
Remain long with an ideal target at 1.3178
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.
