Elliott waves analysis – We’re upwards towards 1.41.

GBPUSD – Flat

Wave Analysis

Finally, the cable is above a key daily zone 1.31303-1.31389. This is a key daily zone and as long as the price remains above it, we expect nothing but a possible steep rise towards the next key level 1.41. The anticipated bullish price rally is the continuation of the impulsive wave (v) and should break above 1.38, towards 1.38 and should head even higher to 1.41. This view can only be invalidated in case the price breaks below 1.31308, if this is the case then we’re within the sellers territory, and we expect a decline towards 1.27141.

Trade Recommendations:

We’re upwards towards 1.41.

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