Perfectly as previously anticipated, earlier last week, the impulsive wave (c) extended to the lower side but could not go beyond the daily support level 1.27735. As long as this level protects the lower side, we expect a rally to the upper side with the first target at 1.3039 if this level is broken, then the price could rise further towards 1.4729. If you didn't go long on the first rebound from 1.27735, you could wait for a second pullback to the same zone then long the cable. While you'll be looking to long gbpusd around 1.27735, also look to buy eurusd around 1.1741. These pairs will have a similar price action during this intaday.
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