Elliott waves analysis – Place a long positions now, should the price break and close above 1.2456.

GBPUSD – Flat

GBPUSD is currently in an impulsive phase. The price is currently forming the impulsive outer major wave ‚V‘, which our target for is at the resistance zone of 1.2625. This pair remains bullish as long as the price remains above the support zone of 1.2391. We expect the price to rise breaking above the major impulsive wave ‚III‘,1.2509. You can place a long position above 1.2509, with your profit target at 1.2625.

Trade Recommendations:

Place a long positions now, should the price break and close above 1.2456.

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