24 April 2017, GBP/USD
During the previous trading week ending 21st April, the cable entered into a contracting triangle and is still consolidating within it. We're waiting for a clear break above this triangular formation to confirm a possible impulsive wave count towards 1.3275 or even higher. This upward rally is highly anticipated since GBPCHF (chart shown below) has a similar triangular formation and will likely head to the upper side. A clear break above this triangle will call for long positions on both pairs.
GBPCHF 4Hour Chart
Trade Recommendations:
Expect a possible break above this triangle to go long with an ideal target at 1.3275.