Elliottwave Analysis: GBPUSD, Add longs at 1.3296/1.3308

Yue Wang LinoCapital

GBPUSD closed back above upper bands after NFP.

According to my system, medium trend still point down.

But on intraday chart, we see a potential inverse head-shoulder bottom formation.

From Elliottwave perspective, some upside correction toward 1.3481/1.3524 could not be ruled out.

We maintain the long position from 1.3285, will look to add on dips.

Directly break below 1.3211 will negative this view.

GBPUSD Trade Idea: (spot 1.3368)

Buy Limit @ 1.3308 SL 1.3200 Take Profit @ 1.3445

Intraday Trade Idea:

Sell Latentinterest Order: 1.3448

Buy Latentinterest Order: 1.3268

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Author

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

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