Elliott waves analysis – Look for buy positions now towards 1.31

GBPUSD – Flat

wait for a pullback to pick a buy position towards 1.31358.

Wave Analysis

The cable is currently trading around 1.2854. During the previous trading day, we saw a possible V formation, and the cable ended up closing just a few pips below its opening price. As it is on the weekly chart attached, we expect nothing but a possible steep rise towards 1.30616 or even higher. And according to the weekly chart attached, we expect a similar move to the upperside towards level 1.31352. You could look for a buy position now, and have your first take profit at 1.31 and the next at 1.43.

Look for buy positions now towards 1.31

Trade Recommendations:

Look for buy positions now towards 1.31

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