Elliott waves analysis – Buy the cable with your first target at 1.30221.

GBPUSD – Flat

Buy the cable with your first target at 1.30221.

Wave Analysis

During the previous week,, the cable gained value significantly and is still showing signs of rising even higher. If the price can successfully break above the previous week’s highest high, then this will be a good confirmation that we’re continuing to the upper side. The anticipated bullish price rally is the continuation of both the impulsive wave s (5) and (c) and (5) and could breakout above 1.30121 towards 1.42 or even higher. As it is, only a breakout below 1.2775 may invalidate the anticipated bullish price rally.
Trade Recommendations:
Buy the cable with your first target at 1.30221.

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