Technical Observation:
As I said earlier this week, Gbp has risen and is still very bullish both on the lesser and the higher time frames. I expect further rise with my take profit still fixed at 1.3595. If the price can breakout above this line, then further rise towards 1.4650 is expected. As it is, I'm only long towards 1.3595 can be recommended where I expect a bounce or a clear rejection. On the way upwards, the key lines to look for include 1.3600, 1.3610, 1.3985. a breakout above these lines will push the price much higher towards 1.4650.
Technical Levels
Resistance levels
R1: 1.3441
R2: 1.361
R3: 1.3985
As I said earlier this week, Gbp has risen and is still very bullish both on the lesser and the higher time frames. I expect further rise with my take profit still fixed at 1.3595. If the price can breakout above this line, then further rise towards 1.4650 is expected. As it is, I'm only long towards 1.3595 can be recommended where I expect a bounce or a clear rejection. On the way upwards, the key lines to look for include 1.3600, 1.3610, 1.3985. a breakout above these lines will push the price much higher towards 1.4650.
Technical Levels
Resistance levels
R1: 1.3441
R2: 1.361
R3: 1.3985
Pivot
1.3234
1.3234
Support Levels
S1: 1.2483
S2: 1.2858
S3: 1.3065
Trade Signal
Still long with my take profit at 1.3594
01 December 2017, GBP/USD
Wave Analysis:
During the previous trading day, the impulsive wave (1) rallied perfectly to the upper side as expected and is still pretty much bullish. During this intraday, we expect further growth to the upper side and even a break above 1.3477 to continue long. If you're not long already, you could wait for a break above 1.3477 to buy the impulsive wave (3) with your target at 1.4365 and the last target at 1.4880. This pair should be traded alongside GBPAUD, GBPCHF, GBPHKD and EURUSD. These pairs have a strong positive correlation of up to +72% and will move in the same direction during this intraday. Only buy or sell Gbpusd if the other positively correlated pairs are giving the same signal.
Trade Recommendations:
Buy the cable above 1.3477 with your target at 1.4365
Wave Analysis:
During the previous trading day, the corrective rally seeking to correct the impulsive wave (E) stretched a bit higher than expected and is still showing signs of rising even higher. During this trading day, we expect further extension to the upper side but should not break above the upper resistive trend line. If you're not already on a short position now, you could wait for a rebound from this trend line, then pick a short position with an ultimate target at 107.25. This pair should be traded alongside CADJPY, AUDJPY, NZDJPY and CHFJPY. These pairs have a strong positive correlation of up to +63% and will move in the same direction during this intraday.
Trade Recommendations:
Wait for a sell along the upper resistive trendline.
Still long with my take profit at 1.3594
Buy the cable above 1.3477
01 December 2017, GBP/USDWave Analysis:
During the previous trading day, the impulsive wave (1) rallied perfectly to the upper side as expected and is still pretty much bullish. During this intraday, we expect further growth to the upper side and even a break above 1.3477 to continue long. If you're not long already, you could wait for a break above 1.3477 to buy the impulsive wave (3) with your target at 1.4365 and the last target at 1.4880. This pair should be traded alongside GBPAUD, GBPCHF, GBPHKD and EURUSD. These pairs have a strong positive correlation of up to +72% and will move in the same direction during this intraday. Only buy or sell Gbpusd if the other positively correlated pairs are giving the same signal.
Trade Recommendations:
Buy the cable above 1.3477 with your target at 1.4365
Waiting for a sell
01 December 2017, USD/JPYWave Analysis:
During the previous trading day, the corrective rally seeking to correct the impulsive wave (E) stretched a bit higher than expected and is still showing signs of rising even higher. During this trading day, we expect further extension to the upper side but should not break above the upper resistive trend line. If you're not already on a short position now, you could wait for a rebound from this trend line, then pick a short position with an ultimate target at 107.25. This pair should be traded alongside CADJPY, AUDJPY, NZDJPY and CHFJPY. These pairs have a strong positive correlation of up to +63% and will move in the same direction during this intraday.
Trade Recommendations:
Wait for a sell along the upper resistive trendline.
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