Elliott waves analysis – We’re waiting to rebuy the cable from 1.31866.

GBPUSD – Flat

We're waiting to rebuy the cable from 1.31866.

Wave Analysis

Perfectly as previously forecasted, the impulsive wave (c) spiked massively to the upperside and is still pretty much bullish both on the daily and the weekly charts. Following the break above 1.31866, as long as the price remains above this level, we expect nothing but a possible momentum to the upperside, the anticipated bullish price rally is the continuation of the impulsive wave (c) to the upperside and should break above the previous day’s highest high towards 1.41. As it is, we only recommend looking for buy orders.

Trade Recommendations:

We’re waiting to rebuy the cable from 1.31866.

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