30 Juni 2016, GBP/USD
Wave Analysis
GBP/USD is currently trading with a bearish bias. The cable continues to make lower lows even as Gold and Yen maintain “safe heaven” status. Although the cable has gained around 2% of the amount it lost during the Brexit results release, we still expect further downward rally but only upon a clear breakout below 1.3375. As long as the pair trades above 1.3375 we expect a possible bullish price movements to the upper side. A clear breakout below 1.3375 will culminate into a momentum towards 1.32. This pair should be traded alongside NZD/USD, AUD/USD and GBP/JPY. These pairs have a strong positive correlation of up to +0.82 and will have a similar price action during this intraday.
Trade Recommendations:
As long as the pair trades above 1.3375, expect a possible rebound from this level to go long with an ideal target at 1.3831. Sell positions are only recommended below 1.3375 with an ideal target at 1.32.
en 
cn 
ar 
ru 
vn 
es 
pt 
th 
kz 
ua 
tj 
uz 
az 
ms 