GBPUSD – Flat
Wave Analysis
While on EURUSD we have seen a 61.8% fib retracement, on the British pound, we have only pulled back 38.2% fib level, this is a huge difference and following the fact that the British pound and the Euro are positively correlated, we are looking for a possible turn on both pairs, we will be expecting a buy on EURUSD and A buy on British pound. On the British pound as shown above, we are looking for long term buy positions towards 1.16620.
Trade Recommendations:
We’re buyers towards 1.16620.
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