Trader, analyst and instructor with a 6-year experience

Nomura: GBP/USD will bounce to $1.65/6600

According to strategists at Nomura, the focus in GBP/USD now shifts to the final leg higher towards 1.65/6600 (wave (c)). Waves-(a) and (b) of the 3-wave correction have been accomplished.  

The final wave is expected to unfold as a sharp 5-wave rally. Near-term resistance is 1.6288. Pullbacks can be used to add long positions for a larger move higher.

Chart. Daily GBP/USD



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