Just as in Euro, the cable continues to loose value against the United states dollar but is still above the weekly support level 1.31896. This is a key level and as long as it protects the upper side, we expect a possible rally to the upper side. This view can only be invalidated in case the price breaks below 1.31896, if this is the case, then we’ll expect a rally to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (c) to the lower side and should break below 1.27252.
Wait for a clear buy around 1.31896