22 September 2017, GBP/USD
Wave Aanalysis:
During the previous trading day, we saw a possible correction of the impulsive wave (1) not going below the daily support level 1.34884, we expect this level to have marked the end of this correction that the current bullish price rally is the unfolding of the third impulsive wave (3) but should not go beyond 1.35. To confirm the continuation of this impulsive wave count, we're waiting for a clear break above 1.36154, to give use the green light to continue long towards 1.35. This view can only be invalidated in case the price goes below 1.34884, if this is the case, then an acceleration towards 1.3206 is inevitable. This pair should be traded alongside GBPHKD, GBPNZD, AUDUSD and EURUSD. These pairs have a strong positive correlation and will move the same direction during this intraday.
Trade Recommendations:
Buy GBPUSD above 1.36154 to buy this pair.
Wave Aanalysis:
During the previous trading day, we saw a possible correction of the impulsive wave (1) not going below the daily support level 1.34884, we expect this level to have marked the end of this correction that the current bullish price rally is the unfolding of the third impulsive wave (3) but should not go beyond 1.35. To confirm the continuation of this impulsive wave count, we're waiting for a clear break above 1.36154, to give use the green light to continue long towards 1.35. This view can only be invalidated in case the price goes below 1.34884, if this is the case, then an acceleration towards 1.3206 is inevitable. This pair should be traded alongside GBPHKD, GBPNZD, AUDUSD and EURUSD. These pairs have a strong positive correlation and will move the same direction during this intraday.
Trade Recommendations:
Buy GBPUSD above 1.36154 to buy this pair.
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