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We still long with an ultimate target at 1.4365

We still long with an ultimate target at 1.4365 | 08 December 2017

08 December 2017, GBP/USD

We still long with an ultimate target at 1.4365

Wave Analysis:

Perfectly as previously forecasted, the cable rose as expected and is still showing possible momentum to the upper side. During this intraday, we expected a possible continuation of the impulsive wave (1) to the upper side and should breakout above 1.3735 so that we buy the impulsive wave (3) towards 1.4365. If you're a bit skeptic to buy this pair now, you could wait for a breakout above 1.3735, then long the cable at the least risk possible. This pair should be traded along other positively correlated pairs such as GBPAUD, GBPCHF, GBPNZD, and GBPHKD. These pairs have a strong positive correlation of up to +71% and will move in the same direction during this intraday.

Trade Recommendations:

We still long with an ultimate target at 1.4365

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Bob Stan
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