Target: 1.6200
Risk: 1.5575
Technical Reasons:
The GBPUSD consolidated well above the major bullish trend line that carries the price from 1.4564 recorded low, to resume the main bullish wave that its next main target located at the recently recorded top at 1.5928.
The exponential moving averages 50 and 100 offer good positive support to the expected bullish wave, and the price might be forced to show some sideways bias affected by stochastic negative signal.
Breaking 1.5575 will put the price under the negative correctional pressure again.
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Risk: 1.5575
Technical Reasons:
The GBPUSD consolidated well above the major bullish trend line that carries the price from 1.4564 recorded low, to resume the main bullish wave that its next main target located at the recently recorded top at 1.5928.
The exponential moving averages 50 and 100 offer good positive support to the expected bullish wave, and the price might be forced to show some sideways bias affected by stochastic negative signal.
Breaking 1.5575 will put the price under the negative correctional pressure again.
www.fxhighway.com
www.facebook.com/fxhighwaycom/
twitter.com/
plus.google.com/1054...15961677289743/posts
FXHighway mobile App: play.google.com...re/apps/details?id=com.fxh...