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Still bullish with the first target at 1.3477

Still bullish with the first target at 1.3477 | 17 November 2017

17 November 2017, GBP/USD

Still bullish with the first target at 1.3477

Wave Analysis:

Perfectly as previously forecasted, the impulsive wave (1) stretched slightly to the upper side and is still pretty much bullish both on the daily and the weekly charts. During this intraday, we expect a possible extension of the impulsive wave (1) to the upper side and should break above 1.3477, where we'll be looking to continue long with the impulsive wave (3) to the upper side with the next target at 1.4198 or even higher. This pair should be traded alongside GBPHKD, GBPMXN and EURUSD. These pairs have a strong positive correlation and will move in the same direction during this intraday. Only buy or sell gbpusd if the other pairs are giving the same signal.

Trade Recommendations:

Still bullish with the first target at 1.3477 and the next target at 1.4198

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Bob Stan
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