We're long with an ideal target at 1.3305 | 08 Juni 2017

During the previous trading day, the cable traded on the higher ranges and is still pretty much bullish on the daily and the weekly chart. During this intraday, we expect a possible extension of the impulsive wave (c) to the upper side towards the weekly resistance level 1.3305 from where we expect a possible turn around to short the cable. At the moment, the current chart set up and structure is pretty much bullish and selling this pair or holding onto a short position may not necessarily be the best choice. Expect a similar wave count in GBPCAD, GBPCHF, EURUSD and NZDUSD. These pairs have a strong positive correlation of up to +85% and will move in the same direction during this intraday.