Buy the cable around 1.2777 | 26 Mei 2017
26 Mei 2017, GBP/USD
Wave Analysis:
Instead of going long as anticipated, the cable is still reluctant to rise above 1.3037, instead, this pair traded short and has even formed a bearish pin bar on the daily chart (yesterday's candle). During this intraday, we expect a possible bearish wave count with an ideal target at 1.27770 from where we'll be looking for low risk buy opportunities. This pair should be traded alongside GBPAUD, GBPCAD and GBPCHF. These pairs have a strong positive correlation of up to +86% and will move in the same direction during this intraday.Expect a possible bearish price rally towards 1.2777. Conservative traders should wait and buy at 1.27770 with an ideal target 1.34.
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.
