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Expect a possible bullish price movements towards 1.34

Expect a possible bullish price movements towards 1.34 | 25 April 2017

25 April 2017, GBP/USD

Expect a possible bullish price movements towards 1.34

Wave Analysis:

After breaking above 1.27725, the cable entered into a descending wedge but is still contained above 1.27725; as long as the pair remains above this level we expect a possible impulsive break above this wedge to confirm the continuation of the impulsive wave (5) to the upper side towards 1.3475. This view can only be invalidated in case the pair end up below 1.2772, if this is the case, then an bearish acceleration towards 1.25648 is expected. Expect a similar wave count in GBPCHF, GBPCAD, and GBPAUD. These pairs have a strong positive correlation of up to +85% and will move in the same direction during this intraday.

Trade Recommendations:

Expect a possible bullish price movements towards 1.34

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Bob Stan
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