GBPUSD – Flat Wave Analysis: After establishing an higher low at 1.3062, the cable has been in a constant up trend ans is still pretty much bullish both on the daily and the weekly charts. Perfectly as we forecasted, the impulsive wave (1) stretched itself higher and should breakout above 1.3477 where we’ll be looking to rebuy the the third impulsive wave (3) with the next target at 1.43365. With that in mind, conservative traders should wait for break above 1.3477, then buy the impulsive wave (3), however, if the price is capped buy the daily resistance level 1.3477, then we expect a correction from this level to the lower side. This pair should be traded alongside GBPAUD, GBPCHF, and GBPNZD. These pairs have a strong positive correlation of up to +72% and will move in the same direction today. Trade Recommendations: We’re long with an ultimate target at 1.4365
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