Elliott waves analysis – we’re bullish towards 1.35

GBPUSD – Flat

Wave Analysis

Since late last week, the cable rallied intensely to the upper side and is still pretty much bullish both on the daily and the weekly charts. As long as the price remains above 1.31, we expect further momentum to the upper side. The anticipated bullish price rally is the continuation of the impulsive wave (c) and should break above 1.34 towards 1.35. This view will only be rendered futile in case the price breaks below 1.30130, if this is the case, then we’ll expect a possible bearish price rally towards 1.27230 or even lower.

Trade Recommendations:

we’re bullish towards 1.35

101% Double the volume

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