Elliott waves analysis – We’re bullish on this pair towards 1.33059.


Wave Analysis

After hitting our take profit set at 1.26941, the cable headed straight to the upper side and is still pretty much above 1.26941, as long as the price remains above this level, we expect a possible momentum to the upper side. Ideally, we expect the rebound from 1.26941 to have marked an end to the impulsive wave (c) that the current bullish price rally is the unfolding of another impulsive wave count and should break above 1.33059, if this is the case, then a move further to the upper side is expected with an ultimate target at 1.38745.

Trade Recommendations:

We’re bullish on this pair towards 1.33059.

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