Elliott waves analysis – We’re long towards 1.33059.

GBPUSD – Flat

We're long towards 1.33059.

Wave Analysis

Perfectly as we forecasted, the cable bounced off from the weekly support level 1.26941 and is currently heading to the upperside. As we mentioned previously, as long as the price is above 1.26941, we expect a possible momentum to the upperside with an ultimate target at 1.33059, and on the otherside, should the price break below 1.26941, then this will be good place to look for a long term short position with an ultimate target at 1.21331. As it is on the weekly chart above, you either remain flat of look a long position.

Trade Recommendations:

We’re long towards 1.33059.

101% Double the volume

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