Elliott waves analysis – Buy the Cable around 1.3289

GBPUSD – Flat

Buy the Cable around 1.3289

Wave Analysis

During the previous week, the cable opened at 1.33072, went as high as 1.3361 and as low as 1.3204, but ended up closing at 1.3347, just a few pips above it’s opening price. The previous week’s candle is a perfect bullish pin bar candle closing above a key level 1.3289. As long as the price is contained above these levels, we expect the level 1.3289 to have marked the end of the impulsive wave (c), that the current movements to the upper side is the unfolding of an impulsive wave count and should not go beyond 1.42460.

Trade Recommendations:

Buy the Cable around 1.3289 towards 1.4246

101% Double the volume

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