Wave Analysis:
During the previous trading day, the impulsive wave (5) extended significantly to the lowerside and is still pretty much bearish both on the daily and the weekly charts. As long as the price remains below 1.2975, w expect a possible momentum to the lowerside. The anticipated bearish price rally is the continuation of the impulsive wave (5) and should break below 1.2620 or even lower. This view can only be invalidated in case the price breaks above 1.2975, if this is the case, then a rally to the upperside is expected.
Trade Recommendation:
sell GBP
Origin: FreshForex
