GBPUSD – Flat Wave Analysis Earlier this week, the cable entered into a symmetrical triangle and is still trading with in it. Unless there is a clear progression outside this triangle, we choose to sit on the sides and only trade breakouts. A breakout below the triangle will push the price to the lower side with an ideal target at $1.2029 while a breakout above the triangle will push the price to the upper side towards the short term resistance zone. This pair will have a similar price action with USD/ZAR. Trade Recommendations: Remain flat for now and wait for a clear break outside the wedge to trade breakout depending on the direction of breakout.
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
https://freshforex.com/analitics/fresh-forecast/forex-correlation-and-Elliott-wave-analysis/issue_83596.html?utm_source=rssfeed&utm_medium=rss&utm_campaign=rssnews&ff_mrk=rss&aff=64063
