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Remain long with your first target at 1.3477

Remain long with your first target at 1.3477 | 27 November 2017

27 November 2017, GBP/USD

Remain long with your first target at 1.3477

Wave Analysis:

During the previous trading day, the impulsive wave (1) extended perfectly to the upper side as expected and is still pretty much bullish. During the intraday, and the coming day, we expect a possible extension to the upper side with an ideal target at 1.3477 or even higher. According to the daily chart above, only a long position can be recommended. If you're a bit skeptic to buy this pair now, you could wait for breakout above 1.3477 then buy the impusive wave (3) with your target at 1.4198. This pair should be traded alongside GBPAUD, NZDUSD, GBPHKD and GBPSGD. These pairs have a strong positive correlation and will move in the same direction today.
Trade Recommendations:
Remain long with your first target at 1.3477 and the next target at 1.4198

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Bob Stan
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