GBP/USD Forecast: British pound established a support around 1.2325

rub-l12Wave Analysis

On 26th June this month, the British pound established a support around 1.2325 and headed to the upper side. We expect the current bullish price rally to be the continuation of a corrective three wave cycle and could see price break above 38.2% fib level, and should the price break and close above 38.2% fib level, then further momentum to the upper side is expected towards 50.0% fib level, on the lower side should the price break and close below swing low, then further momentum towards 1.21 is expected.

Trade Recommendations:

Wait for a resell from 1.24010.

Wait for a resell from 1.24010.

Origin: FreshForex

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