GBPUSD had a beating from BOE, but we still believe there is one pending leg up before it’s turn . Currently pair broken daily but supported by weekly . We are expecting range trading between 1.5780 & 1.5500. Breaking below 1.5475 can find support at 1.5375. While above 1.5640 can open door towards 1.5780.
On Elliottwave view, we are holding temporary view as part of correction label of wave (w)-(x)-(y) as part of . Our primary target will be 1.5780, while daily close above the at 1.5640 will boost our confidence.
Our long from 1.5485 triggered and for primary target for 1.5780. Once, we reach our first target, we will close half position and leave half for more momentary gain. To receive instance trade update and analysis in your mailbox, please subscribe us for risk free 15 days trial by sending mail to firstname.lastname@example.org