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Expect a possible bullish price movements towards 1.30754

Expect a possible bullish price movements towards 1.30754 | 11 May 2017

11 May 2017, GBP/USD

Wave Analysis:

Just as in Euro, the cable is still reluctant to continue long, instead its consolidating but still upward. Today, we expect an extension of the impulsive wave (v) to the upper side with our target around 1.3075. Ideally, as long as the price remains above 1.27735, we expect a possible bullish price movements. At the moment sell positions may not be recommended , instead, we're only interested in long positions. However, if the price can get below 1.27204 within today, then an acceleration to the lower side is inevitable. Expect a similar wave count in GBPCAD, GBPAUD and EURUSD. These pairs will have a similar price action during this intraday.

Trade Recommendations:

Expect a possible bullish price movements towards 1.30754

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Bob Stan
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