We're long | 08 Mei 2017

Wave Analysis:

During the previous trading week, the cable opened at 1.29284, went as high as 1.29827, and as low as 1.27710 but ended up closing at 1.29775 just a few pips above its opening price. The previous week’s candle is a perfect bullish pin bar and as long as the price remains above 1.26832, we expect a possible bullish price movement towards 1.32755 or even higher. Although this upward rally is highly anticipated, we cannot rule out the possibility of price retracing towards the just broken zone1.26832-1.26712, if thus is the case, then this could be the best place to buy this pair at complete minimal risk possible. Expect a similar wave count in GBPAUD, GBPCAD and GBPCHF. These pairs will have a similar price action during this intraday.

Trade Recommendations:

Expect a possible bullish price movement towards 1.32755.