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Buy the cable upon a rebound from 1.3662

Buy the cable upon a rebound from 1.3662 | 05 March 2018

05 March 2018, GBP/USD

Buy the cable upon a rebound from 1.3662

Wave Analysis:
Despite the previous day's forecast, the cable is gradually pulling back to the upperside instead of reaching our support seen at 1.3662-1.3612. We still expect further drop in price although we're seeing a scenario where buyers could push the price upwards towards 1.38, before seller can gain control to push the price to our support level 1.3662-1.3612. According to the current chart set and structure, we choose to remain on the sidelines, our buyers are at 1.3662, therefore, unless the price is clearly at this zone, we're still on the sidelines. This pair should be traded alongside GBPHKD, GBPCHF, and GBPSGD.
Trade Recommendations:
Buy the cable upon a rebound from 1.3662 with your target at 1.4618

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Bob Stan
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