Look for a long position. | 26 February 2018
26 February 2018, GBP/USD
Wave Analysis:
After a drop on Friday, the cable established a daily support at 1.3912. As long as this support protects the upper side, we expect a possible price movements to the upper side and should break above 1.4266 towards 1.4618. The anticipated bullish price rally is just a phase of the initial impulsive wave (v) and may extend above 1.4618. This pair should be traded alongside GBPHKD, GBPSGD, AUDUSD, EURUSD and GBPCHF. these pairs have a strong positive correlation of up to +52% and will move in the same direction today. Only buy or sell the cable if the other positively correlated pairs are giving the same signal.
Trade Recommendations:
Look for a long position towards 1.4618
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.
