Tuesday, June 16, 2015

Gbpusd Intra day Update.

The market ended today with cable advancing further . 


After taking a buy at 1.5350 with first real target at 1.5620 (270 pips), I decided to cash out as price is expected to correct to 1.5450.


The intra day wave analysis in the chart below shows that the first two days of this week have almost completed an ending diagonal terminating the impulsive wave 3 that started last week and price could dip but not below 1.5451 before further rally above 1.5650 and probably 1.5807.




If price dips below 1.5451, the bears will have taken the intra day bearish movement and we might see a dip to 1.5.

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