Consolidations | 31 Mei 2017
31 Mei 2017, GBP/USD
Wave Analysis
The cable continues to consolidate above 1.2770. This is a key daily support and as long as it protects the lower side, we expect a possible bullish price movements towards 1.33. This view can only be invalidated in case the price end up below 1.2770, if this is the case, then an acceleration towards 1.2440 is inevitable. Expect a similar wave count in GBPCAD, GBPAUD and GBPCHF. These pairs have a strong positive correlation of up to +85% and will move in the same direction during this intraday.Expect a possible rebound from 1.2777 to buy this pair towards 1.2777
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.
