GBPUSD Elliot Waves Analysis For 7 July 2016 | 07 Julho 2016

07 Julho 2016, GBP/USD

GBPUSD Elliot Waves Analysis For 7 July 2016

Wave Analysis:

GBP/USD is currently trading with a slight bullish bias. Yesterday, the cable made a lower low and may head further to the lower side. During this intraday, we expect to continue short with wave [c] towards 1.250. The current upward rally is a mere pullback and should not go beyond 1.3226. This pair should be traded traded alongside GBP/CHF, EUR/CHF and USD/JPY. These pairs have a strong positive correlation of up to +0.95 and will have a similar price action during this intraday.

Trade Recommendations:

If you are not short already, wait for the current upward pullback to end around 1.322 then go short with your target at 1.250.

Bob Stan
Agree with the review?
Traders' opinion:
Close
Entrar
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.