Still long | 09 May 2017
09 May 2017, GBP/USD
Wave Analysis:
Yesterday, we witnessed a bearish correction of the impulsive wave (v) and is still showing signs of continuing short. Today, we expect a possible extension of this correction but should not go beyond 1.27735 from where we'll be looking to re-buy this pair at the least risk towards 1.33. This view can only be rendered futile in case the pair end up breaking below 1.27735, if this is the case, then a bearish acceleration towards 1.2440 is inevitable. Expect a similar wave count in GBPCAD, GBPCHF, GBPAUD and EURUSD. These pairs will have a similar wave count during this intraday.
Trade Recommendations:
Re-buy this pair around 1.27735 towards 1.33
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.
