Elliott waves analysis – Wait for a correction to pick a buy towards 1.31825.

GBPUSD – Flat

Wait for a correction to pick a buy towards 1.31825.

Wave Analysis

Perfectly as previously forecasted, the cable rose tremendously and is still very much bullish both on the daily and the weekly charts. As long as the price remains 1.29600, we expect nothing but a possible steep rise towards 1.31525 and should break above this level towards 1.43075. And on the flip side, should the price break below the level 1.27091, then this will be an ideal place to look for sell orders towards the lower trendline, the idea here is to wait for a correction to pick a bullish trade towards 1.3185.

Trade Recommendations:

Wait for a correction to pick a buy towards 1.31825.

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