GBPUSD – Flat
Wave Analysis:
For the past few days, both the impulsive waves (v) and (c) have extended massively to the upper side and are still pretty much bullish. Today and in the next few days, we expect a possible extension of these impulsive waves with an ultimate target at 1.4865. Any violation of this level to the upper side may push the price further to the upper side with an ultimate target at 1.50. This pair should be traded alongside GBPHKD, AUDUSD, EURUSD, GBPMXN and GBPSGD. These pairs have a strong positive correlation of up to +62% and will move in the same direction today.
Trade Recommendations:
Remain long towards 1.50
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