Bullish pin bar on the daily chart | 03 Juli 2017
03 Juli 2017, GBP/USD
Wave Analysis:
During the previous trading day, the cable opened at 1.3001, went as low as 1.2944, and as high as 1.3029, and closed at 1.3020. The previous day's candle is a perfect bullish pin bar and should drive the price upwards towards 1.3303. A break above this level will push the price further upwards but should not go beyond 1.3671. Expect a similar wave count in GBPCAD, GBPAUD, GBPCHF and EURUSD. These pairs have a strong positive correlation of up to +82% and will move in the same direction during this intraday.
Trade Recommendations:
Expect a possible bullish price rally towards 1.3303
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.
